Today we explore the bullish sentiment that has taken SPX valuations to the moon. There are many out there that believe we have hit a plateau on prices that will continue permanently. We talk about the quote: “Stock prices have reached ‘what looks like a permanently high plateau,’ Irving Fisher, Yale economist, told members of the Purchasing Agents Association at its monthly dinner meeting…” When did this quote come out? Carl reviews our earnings chart.
Carl looks at our signal tables to get a sense of the condition of the market. Then he discusses his outlook for the market as well as covering Bitcoin, Yields, Bonds, Gold, the Dollar, among others.
After covering the market, Carl analyzes the short- and intermediate-term charts of the Magnificent Seven. NVDA reports earnings on November 18th.
Carl takes some time to look at Real Estate (XLRE) “under the hood” and discusses its nearing Dark Cross Neutral Signal that is on tap.
Erin covers sector rotation, comparing defensive sectors to aggressive sectors. She looks under the hood at Utilities which is a sector that is showing new momentum among the sectors. With a possible market decline continuing, this defensive area of the market could find favor and continue higher.
The pair finish with looking at viewer symbol requests with an eye toward the intermediate term today.
JOIN US LIVE on Mondays at Noon ET by registering to attend here: https://us06web.zoom.us/webinar/register/WN_D6iAp-C1S6SebVpQIYcC6g
TRY OUT any of our subscriptions for two week FREE using coupon code: DPTRIAL2 at checkout here: https://www.decisionpoint.com/products.html
01:03 “…a permanently high plateau”?
03:35 DP Signal Tables
05:50 Market Analysis
15:44 Magnificent Seven
21:44 Real Estate Sector
23:12 Questions
28:06 Sector Rotation
40:06 Symbol Requests
Introducing the new Scan Alert System!
Delivered to your email box at the end of the market day. You’ll get the results of our proprietary scans that Erin uses to pick her “Diamonds in the Rough” for the DecisionPoint Diamonds Report. Get all of the results and see which ones you like best! Only $29/month! Or, use our free trial to try it out for two weeks using coupon code: DPTRIAL2. Click HERE to subscribe NOW!
Learn more about DecisionPoint.com:
Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!
Try us out for two weeks with a trial subscription!
Use coupon code: DPTRIAL2 Subscribe HERE!
Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin
(c) Copyright 2024 DecisionPoint.com
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.
Helpful DecisionPoint Links:
Price Momentum Oscillator (PMO)
Swenlin Trading Oscillators (STO-B and STO-V)
