JFarrish Dec Outlook

JimsNotes.com Crude moves higher... Tech moves lower MARKET OUTLOOK:  December 1st Only 24 shopping days left... just in case you are not paying attention. The deal with OPEC is official and the market responds with the NASDAQ and S&P 500 both negative on the day. Crude however was up 9.3% on the news and energy (XLE) gained 5.1%. As the oil market looks at the agreement with hope investors speculate on what will take place if it becomes reality. In the end, it is all speculation or market gymnastics at its best. The indexes jumped higher early on the hope contained in the OPEC announcement and positive economic data... it spent the rest of the day slowing moving lower with some intraday volatility among traders. Futures are equally soft this morning as we watch to see how investors respond to the new month. The month of November will go down as a big positive thanks to the hope and speculation from the election results. The S&P 500 index gained 5.4% as investors put money to work with belief that changes in Washington will be good for stocks. Money rotated to the sectors it believed would be treated the best the leaders were financials (XLF), industrials (XLI) and basic materials (XLB). The S&P 500 index ended the day at 2195 as investors were positive to start the day, but worries about the valuations and technical views settled in and closed slightly lower on the day. Energy was the obvious leader on the day up more than 5% as investors found hope in the production cuts promised by the OPEC agreement. How that unfolds with Russia and Iran still producing more oil is yet to be seen. For now, money flow into the sector is positive. Financials (XLF) and basic materials (XLB) were also helpful in keeping the S&P from heading even lower on the day. The losers were utilities (XLU), telecom (IYZ) and consumer staples (XLP). Five sectors lost more than one percent on the day and that is worthy of note. Treasury bonds yields on the ten-year bond jumped back to 2.36% as investors look for the Fed to act on interest rates at the next FOMC meeting.  Technically the market has resumed the uptrend from a longer term view. There is some topping in the charts and I am watching to see how this all unfolds moving forward... economic data will play a key role the next week.  >>more Crude moves higher... Tech moves lower Subscriber Quick Links Jim's Notes Research Page Research Video  Trading Strategy Spreadsheet Don't Need the Trades? Just get the research, educational videos & webinars: 1 Year -  Only $200 Jimsnotes.com was created by Jim Farrish with the goal of educating investors about trading with discipline.  Jim knows the risk of losing money will increase without disciplined trading strategies, and current market analysis.  Always invest according to your own risks, disciplines and objectives. Jim's Notes 321-255-1995 |  Jim@JimsNotes.com | JimsNotes.com 2101 South Waverly Place, Suite 200-A Melbourne, FL 32901 LIKE US ON FACEBOOK Not a Subscriber Yet?  Order Now