There are certain days when it is prudent not to try to predict the direction of the markets. The day after a long weekend such as Thanksgiving fits that description. Indexes and stocks are more reactionary going into the holiday trading. Upgrades and downgrades get more attention, as witnessed in the downgrade of ROKU Today affecting related stocks, i.e. ZM, NVDA. However, it remains important to see how the markets close at the end of the day. The T-line remains an important trend indicator. Use Today as a evaluation day, assessing which stocks/sectors may be the strong or weak sectors going into the end of the year. It will be important to see the indexes closing above the T-line Today to indicate investor sentiment has not reversed the current uptrend.
December 2nd Daily Market Comments
There are certain days when it is prudent not to try to predict the direction of the markets. The day after a long weekend such as Thanksgiving fits that description. Indexes and stocks are more reactionary going into the holiday trading. Upgrades and downgrades get more attention, as witnessed in the downgrade of ROKU Today affecting related stocks, i.e. ZM, NVDA. However, it remains important to see how the markets close at the end of the day. The T-line remains an important trend indicator. Use Today as a evaluation day, assessing which stocks/sectors may be the strong or weak sectors going into the end of the year. It will be important to see the indexes closing above the T-line Today to indicate investor sentiment has not reversed the current uptrend.