Hi all,
Andrew and I are down in Medellin for a meet-up with some of our Colombian members. It has been a great time and we have met lots of friendly and fun people.
The indexes all ended positive on the shortened trading week. The much-anticipated NVDA earnings report was good but the stock price reaction was muted, possibly due to the big run-up we saw into the report.
Tech stocks seem a little exhausted after a pretty good November so we could be due for a pause in upside momentum in that sector. That said, VIX is really low showing no fear of any significant sell-off next month.
Seasonally, December is not as good as November but there is still optimism in the markets that the Fed is done raising rates. If the PCE price index data that comes out Thursday shows inflation is still trending lower, then it could be more fuel for the market to push higher into year-end.
Recap Video
Sectors in Play Last Week:
Key Levels for this Week:
What to Watch for this Week:
Earnings this week:
Tracking:
Will watch stocks like AAPL, AMD, and NVDA for more signs of topping action and possibly sell puts or calls expecting consolidation as opposed to more big moves.
Positions:
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