Before the Open (Nov 30)

Posted on by Jason Leavitt

Good morning. Happy Tuesday.
The Asian/Pacific markets closed mostly down – China and Japan lost more than 1%. Europe is currently mostly down – losses aren’t big. Futures here in the States point towards a moderate gap down open for the cash market. This comes off a surprise vertical rally the last 90 minutes yesterday which closed the S&P in the middle of its 2-week range. Here’s the 60-min SPX chart I posted several times last week. The market is unchanged over the last two weeks and unchanged since the end of Oct.

Don’t harbor too strong of a bias here. We’ve had several sudden moves up and down the last two weeks, and in the end the market has gone nowhere. We’re still getting lots of mixed signals…the charts look decent, but the indicators suggest more downside is coming…the time of year and Fed action say up is the path of least resistance, but historical tendencies have been completely ignored lately, and the market has not responded positively to POMO days the last two weeks. There is no clear bias here in the short term. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers

0 thoughts on “Before the Open (Nov 30)”

  3. The european banks are about to get cliped
    i was a pirate many lifetimes ago,
    but now im honest oz-ie
    its a hard day for a daytrader today–had some trades before the bell but am flat
    we hit 1273 spx and bounced–i usually stay out at sup/res and wait for a result
    Neal whos address did u want

  5. im not in the mood to be a bull tonite—might go to sleep—its 1.30 am
    normally sleep during our day as our xjo has no volitility–it only trade 30 -50 point range per day—75 points is big for us

Leave a Reply