https://www.howestreet.com/2024/12/what-could-bitcoins-short-term-high-be-mark-leibovit/
NEXT PODCAST THURSDAY EVENING
Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.
~ Ayn Rand
After failing to sustain an early move to the upside, stocks moved moderately lower over the course of the trading session on Tuesday. The major averages added to the losses posted during Monday’s session, with the Nasdaq and the S&P 500 pulling back further off last Friday’s record closing highs.
The major averages dipped to new lows for the session in the latter part of the trading day. The Dow slid 154.10 points or 0.4 percent to 44,247.83, the Nasdaq fell 49.45 points or 0.3 percent to 19,687.24 and the S&P 500 slipped 17.94 points or 0.3 percent to 6,034.91.
The weakness that emerged on Wall Street came as traders continued to cash in on recent strength in the markets ahead of the release of the Labor Department’s closely watched report on consumer price inflation on Wednesday.
“There’s been little sign of the hoped-for ‘Santa rally’ across markets today as Wall Street continues to be distracted ahead of tomorrow’s inflation data,” said Danni Hewson, head of financial analysis at AJ Bell.
The report is expected to show consumer prices rose by 0.2 percent for the fifth straight month in November, while the annual rate of consumer price growth is expected to tick up to 2.7 percent in November from 2.6 percent in October.
Core consumer prices, which exclude food and energy prices, are expected to increase by 0.3 percent for the fourth straight month in November. The annual rate of growth by core consumer prices is expected to remain at 3.3 percent.
While the Federal Reserve is widely expected to lower rates by another 25 basis points next week, the data could impact the outlook for future rate cuts by the central bank.
CME Group’s FedWatch Tool is currently indicating an 86.1 percent chance the Fed will lower rates by a quarter point next week but a 69.1 percent chance the central bank will then leave rates unchanged in late January.
Sector News
Computer hardware stocks moved sharply lower on the day, with the NYSE Arca Computer Hardware Index plunging by 3.8 percent after ending Monday’s trading at a nearly five-month closing high.
Significant weakness was also visible among semiconductor stocks, as reflected by the 2.5 percent slump by the Philadelphia Semiconductor Index.
Housing stocks also saw considerable weakness on the day, dragging the Philadelphia Housing Sector Index down by 2.1 percent.
Homebuilder Toll Brothers (TOL) led the sector lower after reporting fiscal fourth quarter earnings and revenues that beat estimates but weaker than expected unadjusted homebuilding gross margin.
On the other hand airline stocks showed a strong move to the upside, driving the NYSE Arca Airline Index up by 1.7 percent. Alaska Air Group (ALK) soared by 13.2 percent after raising its fourth quarter profit forecast.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Tuesday. While Japan’s Nikkei 225 Index rose by 0.5 percent, Hong Kong’s Hang Seng Index fell by 0.5 percent.
Meanwhile, European stocks moved mostly lower on the day. The French CAC 40 Index slumped by 1.1 percent, the U.K.’s FTSE 100 Index slid by 0.9 percent and the German DAX Index edged down by 0.1 percent.
In the bond market, treasuries extended the pullback seen in the previous session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 2.2 basis points to 4.221 percent.
Tucker Carlson: Russian Foreign Minister Sergey Lavrov Describes the War With the US & How to End It
https://tinyurl.com/39ysy4j2
https://www.currentmarketvaluation.com/models/buffett-indicator.php
NEXT FOMC MEETING:
DEC 18
OPPORTUNITY TO ACCESS MARK LEIBOVIT’S PROPRIETARY VOLUME REVERSAL INDICATOR – THIS IS THE ONLY PLACE TO DO IT!
Yes, that’s a cartoon of me. Louis Rukeyser had us dressed up in ‘elf’ costumes on the screen broadcast each week. I’ve dated myself. That occurred for me between 1988-1996. Lou didn’t like any bearish comments, so myself and other elves got dumped in 1996.
WHO am I?
MARK LEIBOVIT is Chief Market Strategist for LEIBOVIT VR NEWSLETTERS a/k/a VRTrader.Com. His technical expertise is in overall market timing and stock selection based upon his proprietary VOLUME REVERSAL (TM) methodology and Annual Forecast Model.
Mark’s extensive media television profile includes seven years as a consultant ‘Elf’ on “Louis Rukeyser’s Wall Street Week” television program, and over thirty years as a Market Monitor guest for PBS “The Nightly Business Report”. He also has appeared on Fox Business News, CNBC, BNN (Canada), and Bloomberg, and has been interviewed in Barrons, Business Week, Forbes and The Wall Street Journal and Michael Campbell’s MoneyTalks.
In the January 2, 2020 edition of TIMER DIGEST MAGAZINE, Mark Leibovit was ranked the #1 U.S. Stock Market Timer and was previously ranked #1 Intermediate U.S. Market Timer for the ten year period December, 1997 to 2007.
He was a ‘Market Maker’ on the Chicago Board Options Exchange and the Midwest Options Exchange and then went on to work in the Research department of two Chicago based brokerage firms. Mr. Leibovit now publishes a series of newsletters at www.LeibovitVRNewsletters.com. He became a member of the Market Technicians Association in 1982.
Mr. Leibovit’s specialty is Volume Analysis and his proprietary Leibovit Volume Reversal Indicator is well known for forecasting accurate signals of trend direction and reversals in the equity, metals and futures markets. He has historical experience recognizing, bull and bear markets and signaling alerts prior to market crashes. His indicator is currently available on the Metastock platform.
His comprehensive study on Volume Analysis, The Trader’s Book of Volume published by McGraw-Hill is a definitive guide to volume trading. It is now also published in Chinese. Mark has appeared in speaking engagements and seminars in the U.S. and Canada.
From Martin Armstrong
Biden Authorizes Starting World War III Before Trump Takes Office
I have been warning that our Computer has projected that war will continue and that the Neocons are traitors to the people of the United States and a
threat to the entire world. Biden, the senile one, will sign anything put in front of him, and he is incompetent to be president. For that matter, so is
Kamala. Both threaten the National Security of our nation and the world. Putin is justified to start attacking the United States directly. Since he knows
Trump is coming, he will try to sit on his hands. God help us if the Russian Neocons overthrow Putin. There will be no stopping this.
GATA CHRIS POWELL PRSENTATION – NOV 2024
I USE JOEL WALLACH’S SUPPLEMENTS EVERY DAY. MAY AGAIN PROVIDE A LINK TO PURCHASE THEM HERE
COME ON, DAD. IT’S TIME TO EAT
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