Hi all,

The markets bounced back this week after a big pullback last week. There was not a lot of economic data to move the markets but everyone was waiting for NVDA to report earnings on Wednesday after the close.

NVDA reported beats on both top and bottom lines, but guidance was a little disappointing for the markets with a mention of some part supply constraints that will delay shipments of the high-end Blackwell chips. When the dust settled at the end of the week, NVDA's price was essentially unchanged versus the start of the week.

Other notables, Bitcoin hit 100k, gold rebounded with the week’s geopolitical events and CME FedWatch tool now has a rate cut in December at about 50%.

Next week is a very short trading week with the Thanksgiving Thursday holiday and a truncated trading day on Friday which is traditionally very quiet. Most markets are back near all-time highs except the QQQ which looks like money rotating out of the tech sector. 

Cheers. 

Brian

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Sectors in Play Last Week

• Basic Materials, Staples, and Energy were the big gainers this week.
• Communication Services was the worst performing sector this week (GOOGL under pressure).

Key Levels for this Week

• DOW (44,296) – support 43,000 and resistance 44,500
• QQQ (507) – support 495 and resistance 515
• SPY (596) – support 584 and resistance 600
• IWM (238) – support 226 and resistance 240

What to Watch for this Week

• Monday – nada
• Tuesday – 10:00 Home sales and Consumer Confidence; 2:00 Fed November meeting minutes
• Wednesday – 8:30 Jobless claims and Durable goods orders; 10:00 PCE data
• Thursday – holiday
• Friday – short trading day

Earnings this week

• Monday – post ZM
• Tues – BBY, M, DKS pre and DELL, CRWD, WDAY post
• Wed – nada
• Thurs – holiday
• Friday – nada

Positions and Trades Last Week

• HUT – long Bitcoin trade
• IBIT – long from last week’s watchlist.
• XLU – long as per last week’s watchlist.
• XLV – long as per last week’s watchlist.
• TD – long now - sold more upside calls.
• TNA – ETF long IWM.

Tracking for Potential Trades

• ARKG – ETF for genomic space – bottoming action just like XLV last week.
• BABA – getting really oversold. Watching for a bottom.
• DAVE – looks ready to break higher.
• SLV – Silver looks like it is bottoming after the sell-off. 

Note: These are investments I am in or watching however, they may not be suitable for all investors. The author of this email is NOT an investment advisory service, a registered investment advisor, or a broker-dealer and I do NOT undertake to advise clients or recipients of this email on which securities they should buy or sell for themselves. This email is provided for information purposes only and traders should always consult with their licensed financial and tax advisors to determine the suitability of any investment.