https://www.howestreet.com/2024/12/should-you-be-taking-stock-profits-now-mark-leibovit/
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
US Market Commentary
U.S. Stocks Close Little Changed Following Lackluster Session
After failing to sustain an early move to the upside, stocks showed a lack of direction over the course of the trading session on Friday. The major
averages bounced back and forth across the unchanged line before eventually closing narrowly mixed.
The Dow dipped 86.06 points or 0.2 percent to 43,828.06, closing lower for the seventh consecutive session. The S&P 500 edged down 0.16 points or less
than a tenth of a percent to 6,051.09, while the tech-heavy Nasdaq inched up 23.88 points or 0.1 percent to 19,926.72.
The major averages also turned in a mixed performance for the week. While the Nasdaq rose by 0.3 percent, the S&P 500 slid by 0.6 percent and the narrower
Dow tumbled by 1.8 percent.
The early strength on Wall Street partly reflected a positive reaction to earnings news from Broadcom (AVGO), with the chipmaker soaring by 24.4 percent
on the day.
The spike by Broadcom came after the company reported better than expected fiscal fourth quarter earnings and said it expects continued strong demand for
its custom AI chips.
Buying interest waned shortly after the start of trading, however, as traders look ahead to next week’s Federal Reserve meeting.
The Fed is widely expected to lower interest rates by another 25 basis points, although traders are likely to pay close attention to the accompanying
statement for clues about future rate cuts.
Recent data showing inflation remains sticky has led to worries the Fed will lower rates slower than previously anticipated next year.
CME Group’s FedWatch Tool is currently indicating a 97.1 percent chance the Fed will cut rates by a quarter point next week but an 81.0 percent chance the
central bank will then leave rates unchanged in late January.
On the inflation front, the Labor Department released a report showing import prices in the U.S. unexpectedly edged higher in the month of November.
Sector News
Gold stocks extended the sell-off seen in the previous session amid a continued slump by the price of the precious metal, dragging the NYSE Arca Gold Bugs
Index down by 2.7 percent.
Considerable weakness was also visible among steel stocks, with the NYSE Arca Steel Index tumbling by 2.6 percent to its lowest closing level in almost
three months.
Computer hardware, airline and housing stocks also saw notable weakness, while semiconductor and networking stocks showed strong moves to the upside.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Friday. Japan’s Nikkei 225 Index slumped by 1.0
percent, while China’s Shanghai Composite Index dove by 2.0 percent.
The major European markets showed more modest moves to the downside on the day. While the French CAC 40 Index dipped by 0.2 percent, the U.K.’s FTSE 100
Index and the German DAX Index both edged down by 0.1 percent.
In the bond market, treasuries moved notably lower over the course of the session, extending a recent downward trend. As a result, the yield on the
benchmark ten-year note, which moves opposite of its price, jumped 7.5 basis points to 4.399 percent.
Looking Ahead
While the Fed’s monetary policy decision will be in the spotlight next week, traders are also likely to keep an eye on reports on retail sales, industrial
production, housing starts, existing home sales and personal income and spending.
The report on personal income and spending, which is scheduled to be released next Friday, includes the Fed’s preferred readings on consumer price
inflation.
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.
COME ON, DAD. IT’S TIME TO EAT
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