Daily Report | 28 November 2023
Wall Street stock markets closed slightly lower on Monday (27/11/23) in muted trade as investors were reluctant to position ahead of key economic data due later this week.
Weekly Report | 27 November 2023
THE RALLY AHEAD OF THE THANKSGIVING HOLIDAY USUALLY KICKS OFF A BULLISH RUN UNTIL THE END OF THE YEAR.
Investors Watched The Start of The Seasonal Shopping Season for Signs of Consumer Resiliency
Investors watched the start of the seasonal shopping season for signs of consumer resiliency. U.S. 10-year Treasury yields, which set the tone for borrowing costs worldwide, rose to 4.485%.
Daily Report | 27 November 2023
U.S. stocks ended little changed in holiday-shortened trading on Friday (24/11/23), with low volume and conviction as investors watched the start of the seasonal shopping season for signs of consumer resiliency.
U.S. Traders Were Eyeing Their Thanksgiving Meals Rather Than Dealing
U.S. traders were eyeing their Thanksgiving meals rather than dealing, while in Asia overnight the focus had been signs of more help coming for China’s long-suffering property market.
Daily Report | 24 November 2023
World equity markets added to their best month since the COVID vaccine breakthroughs of late 2020 on Thursday (23/11/23) as Europe digested another far-right election shock and oil skidded after OPEC+ postponed its weekend meeting.
Economy Weakening But Still Strong Enough to Avoid Recession
US MARKETS: Economic data mentioning Initial Jobless Claims, Durable Goods Order, and consumer sentiment from the Univ. of Michigan essentially view the economy as slightly weakening but still strong enough to avoid recession.
Daily Report | 23 November 2023
Dow Jones and others closed in positive territory on Wednesday (22/11/23) ahead of the Thanksgiving holiday amid optimism that the Federal Reserve is at the end of its interest rate hiking trend while the US economy proves to remain resilient.
US10YT is Expected to Continue to Drop Until The Target Bottom at 4.309% Yield
US10YT is expected to continue to drop until the target bottom at 4.309% yield; the result of the PARALLEL CHANNEL uptrend pattern that has been broken. Support from previous low level that will be tested soon: 4.381% yield. Nearest Resistance: MA10 or 4.505% yield. ADVISE: reduce position.
