- The S&P 500 lost 0.16%; however, 55% of its components closed in the green
- The S&P 500 and Dow Jones have strongly bullish postures; the NASDAQ and Russell 2000 have weakly bearish postures
- All major U.S. equity indices closed above their respective rising 30 day moving averages
- The Dow Jones Industrial Average was up 0.01% and the Russell 2000 was up 0.31%; however, the NASDAQ Composite closed lower by 0.59%
- The 10 Year U.S. Treasury Yield (strongly bearish posture) rose slightly to 3.75%; it continues to trade below its falling 30 day moving average
- All major bond categories (Long Term U.S. Treasuries, Foreign, High Yield) have strongly bullish postures and are trading above their rising 30 day moving averages
- High Yield bonds outperformed government bonds today, perhaps due to strength in oil prices (+2.18%)
- The U.S. Dollar (+1.22%) remains with a strongly bearish posture and is below its falling 30 day moving average; it remains below $17,000
- Gold finished higher by 0.49%; it remains with a strongly bullish posture and is trading above its rising 30 day moving average
- Developed foreign stocks are at a relative high versus the U.S. over the past 6 months; they closed higher by 0.29% today and have a bullish posture
- Emerging foreign stocks (strongly bullish posture) had a stronger day (+2.15%) due to strength in Chinese securities
- For the first time in a couple months, Energy is no longer atop the Sector Selector; it fell to fifth place and was replaced by Industrials
- Energy is the only sector without a strongly bullish intermediate posture at the moment
- Real Estate was the day’s best performing sector (1.67%); all REITs in the S&P 500 closed higher today
- Technology was the worst sector today, down 0.98% (likely due to a large influence from Apple, which was down 2% today)
- Our trade application example featured buying shares of Norwegian Cruise Line Holdings (NCLH) as a bullish swing trade due to its bullish Near-Term divergence and bounce up and off its rising 30 day moving average
Please LIKE tonight’s Market Outlook video on Twitter and Facebook below:
Here's the intro of today's #MarketOutlook video from @MarketScholars
— 𝐁𝐫𝐚𝐧𝐝𝐨𝐧 𝐕𝐚𝐧 𝐙𝐞𝐞 (@BrandonVanZee) November 30, 2022
Watch the full video for free here:https://t.co/sQBwmDJLL1
Mentioned: $SPY $SPX $QQQ $IWM $RUT $DIA $TLT $TNX $EFA $UUP $NOBL $BTC $ABNB $DDOG $CRWD $MSGS $HZNP $JNJ $AMGN $NTAP $BRKB $LVS $CAT $UNP $NCLH pic.twitter.com/tuUauj7ptB
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