What a day.
The indices rallied off of Powell’s speech, and the $SPX crossed the 200-day moving average. The SPX almost closed its gap at 4,083 back on Sept. 12.
We can trend higher into the 4,120 mark in time.
Inside Scoop Weekly Strategy Session – November 30, 2022
This is the video recording of our November 30, 2022, Inside Scoop Weekly Strategy Session.
Hedge Fund Shows More Interest in HRT
The largest insider transaction on today’s list is a Form 4 filing by General Atlantic LP.
The hedge fund reported an additional purchase worth roughly $7 million in HireRight Holdings Corp $HRT.
Swing Trader Pro: Morning Briefing (11-30-2022)
From the Desk of Kimmy Sokoloff
I think it could be a decision day for the indices, and we’re either setting up for a ripper or a decent drop.
The $SPX needs to get above 3,972. If it does, we can see 4,000-plus.
Otherwise, we can see 3,922, then 3,860.
Buy High, Sell Higher
From the Desk of Steve Strazza @Sstrazza
While there have been some real winners during the recent rally, the run off the lows from this fall has also left many stocks behind.
Value stocks, cyclicals, and blue-chip names have prospered for the past two months, as groups like financials and industrials have been the latest beneficiaries of sector rotation.
At the same time, mega-cap technology and the most-speculative growth areas of the market have continued to show relative weakness.
To be clear, it’s not like these stocks have been crashing lower while the rest of the market rallies. Of course, many have participated in the upside action.
But, on balance, the performance from growth stocks has been lackluster.
Swing Trader Pro: Afternoon Briefing (11-29-2022)
Overall, the market acted weak today.
The $SPX remained below its eight-day moving average, which is at 3,972. This index came close to touching support at 3,933.
Kelcy Warren Adds Even More ET Shares
The co-founder and executive chairman of Energy Transfer $ET, Kelcy Warren, reappears on our list today.
Warren reported an additional buy of roughly $16 million.
Swing Trader Pro: Morning Briefing (11-29-2022)
From the Desk of Kimmy Sokoloff
Futures are up this morning.
What we want to see if this market is going to head higher is that we get above $SPX 3,977.
Support is at SPX 3,956, then 3,933.
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