Table of Contents:

Systems Comments

I sent out 2 emails already on the SPY and AAPL systems.

1. General Market Analysis: SPX and Other Major Indices 

Market Surges after Fed Chairman Powell's comments Click here for article

2. Review of Select Sectors

3. Glance at Currencies and Commodities

4. Precious Metals and GDX

5. Trade Ideas

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Today was one of those 'rip your face off' rallies, especially after Fed Chairman Powell's softer comments. I hope you guys see just how important the Fed is to the market.  The Dow rallied 618 points or 2.5%, the SPX rallied 62 points or 2.3%, the Nasdaq rallied 3%, and the Russell 2000 rallied 2.5%. Obviously a very nice day for the market, however that's also par for the course in this volatility especially when things get too too stretched along with bearish sentiment.  Last night Steve posted 8 new long setups and most of his provided nice trades, and most of my long setups from Monday that didn't trigger on Tuesday triggered today for very nice trades!  

As far as the market, one thing to note is that the indexes essentially closed at the 61.8% Fibonacci retracements from the Nov 7th highs to last week's lows.  Lately that 61.8% Fib has been an important one.  We'll see what happens tomorrow.  Generally after a big rally day you get an inside day.  The best thing for the 'bulls' in the short term would be for the market to not have a big retracement, more than 50% of today's candle range.  

Matt

Week of November 26 - November 30

Date	ET	Release	For	Actual	Briefing.com Forecast	Briefing.com Consensus	Prior	Revised From
Nov 27	09:00	Case-Shiller 20-city Index	Sep	5.1%	5.2%	5.3%	5.5%	--
Nov 27	09:00	FHFA Housing Price Index	Sep	0.2%	NA	NA	0.4%	0.3%
Nov 27	10:00	Consumer Confidence	Nov	135.7	135.7	135.5	137.9
Nov 28	07:00	MBA Mortgage Applications Index	11/24	5.5%	NA	NA	-0.1%
Nov 28	08:30	GDP - Second Estimate	Q3	3.5%	3.6%	3.6%	3.5%
Nov 28	08:30	GDP Deflator - Second Estimate	Q3	1.7%	1.4%	1.4%	1.7%
Nov 28	08:30	Adv. International Trade in Goods	Oct	-$77.2B	NA	NA	-$76.3B	-$76.0B
Nov 28	08:30	Adv. Retail Inventories	Oct	0.9%	NA	NA	0.1%
Nov 28	08:30	Adv. Wholesale Inventories	Oct	0.7%	NA	NA	0.6%	0.3%
Nov 28	10:00	New Home Sales	Oct	544K	555K	575K	597K	553K
Nov 28	10:30	Crude Inventories	11/24	+3.6M	NA	NA	+4.9M
Nov 29	08:30	Personal Income	Oct		0.3%	0.4%	0.2%
Nov 29	08:30	Personal Spending	Oct		0.4%	0.4%	0.4%
Nov 29	08:30	PCE Prices	Oct		NA	NA	0.1%
Nov 29	08:30	PCE Prices - Core	Oct		0.2%	0.2%	0.2%
Nov 29	08:30	Initial Claims	11/24		220K	218K	224K
Nov 29	08:30	Continuing Claims	11/17		NA	NA	1668K
Nov 29	10:00	Pending Home Sales	Oct		0.3%	0.7%	0.5%
Nov 29	10:30	Natural Gas Inventories	11/24		NA	NA	-134 bcf
Nov 29	14:00	FOMC Minutes	Nov		NA	NA	NA
Nov 30	09:45	Chicago PMI	Nov		57.5	58.0	58.4

Actual refers to the actual figures after their release.

Briefing.com Forecast refers to Briefing.com's forecast.

Briefing.com Consensus represents the market consensus estimate for each indicator.

Prior represents the last actual for each indicator. In cases where the release is a revision to an earlier estimate, as is possible with GDP, productivity, and U of Michigan sentiment, the last actual refers to the preliminary estimate for the same period. After a report is released, the Prior column reflects the prior figure as revised.

The Revised From column lists the prior number as it was originally reported, ie before revision.

Not included: Mitsubishi and Redbook chain store indexes are released every Tuesday morning. M2 is released every Thursday at 16:30 ET.

Stock Earnings Calender:

Click here for a list of Stocks that are reporting Earnings

**Generally we never hold a position into earnings since the risk/reward is too great