November 27, 2019 8:18am
I am still worried about pricing sustainability
Pre-open indications: let ’em ride
It’s an honor to be considered the “canary in the (sectors) coal mine”! I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors in the perception of sector vulnerabilities and strengths – it’s more than opinion, the facts and truth need to be recognized!
Who is feeding your portfolio “intel” - profit from RMi’s analysis!
Dow futures are UP +0.01% (+2 points), S&P futures are UP +0.09% (+3 points) and NASDAQ futures are UP +0.18% (+15 points)
US futures point to slightly higher open;
European stocks touch 4-year high as Trump says US-China close to a trade deal;
Asia stocks mixed as investors wait for concrete developments on US-China trade
Data Docket: the latest weekly jobless claims report and personal income and spending numbers will be released at around 8:30 a.m. ET. Durable goods orders for October and the second reading of real third-quarter gross domestic product (GDP) will be published at the same time. Chicago Purchasing Managers’ Index (PMI) for November and pending home sales for October will follow.
Wednesday’s moves come ahead of the U.S. Thanksgiving holiday for which the market will be closed on Thursday. Typically, the Wednesday before Thanksgiving has been a good day for stocks. Data from the Stock Trader’s Almanac shows the Dow has only declined 16 times in the past 66 years the day before the holiday <CNBC>.
Let the machines and algorithms ... do what they do!
Tuesday night’s newsletter heading: “volume shapes the upside as the Advance/Decline (A/D) line slips and the IBB and XBI slurps.”
- The IBB closed up +0.23% while the XBI closed up +0.14% after Monday’s IBB closed up +2.84% while the XBI closed up +3.75%
- The NASDAQ closed up +15.44 points (+0.18%);
- 15 out of the 23 upside had higher than the 3 month average volume;
- 6 out of the 19 downside had higher than the 3 month average volume;
Review the context of Q4’s market – so far:
- November has registered 10 positive and 8 negative close;
- October registered 10 positive, 1 neutral and 14 negative closes;
Companies in my headlights – It’s your decision; I provide an idea and context:
Pre-open indications: let ‘em ride
Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. All investments are subject to risks. Investors should consider investment objectives.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.