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- 🌟 Elite Insiders 11-28-23
🌟 Elite Insiders 11-28-23
Simplify Wall Street & Dead Dollar
November 28, 2023
💡Top Tweets of the day: 😱
The damage to the market and economy, if you start decreasing rates too early, will be far more long-lasting. More on this in our premium newsletter. $7 bucks a month for the year! When you sign up today!
— Simplify Wall Street (@SimplifyWSJ)
5:02 AM • Nov 28, 2023
Treasury just borrowed another $60.9 billion on Friday, pushing the federal debt over $33.8 trillion for the first time...
This is fine...— E.J. Antoni, Ph.D. (@RealEJAntoni)
10:08 PM • Nov 27, 2023
Our Thoughts
Clearly, the statement “this is fine” is sarcasm. If there is one thing for certain, the stock market, real estate, and economy have a long way to go to be considered healthy. High stock prices don’t always correlate to a healthy market.
ELITE INSIDERS
On-Tap
MacroEconomic Info
No More Booming Economy?
Black Friday is Dead | Lower Consumer Spending
Trading Levels: Prep for a Christmas Rally?
$SPY, + Futures (/NQ + /ES)
Investors Lab:
Investing Stock Picks
Alerts made in chat:
Currently holdings $SPY 420 puts at .9 expiring December 29th.
Get Alerts when we buy and sell? (GET ALERTS) 50% off with Code SWSBF
ON-TAP
No More Booming Economy
First, this tweet came across our timeline, and we shook our heads in agreement. Let us explain.
When everything is fully stocked during such an infamous holiday, it’s concerning because it gives you a thorough vision and allows you to read through the garbage analysts, furus, and inconsistent finance professionals on CNBC (equivalent). Not all are garbage, but the reality is items are left on the shelves because, as a nation, retail does not have money to spend.
U.S Retail Sales
U.S. retail Sales have been decreasing since September. Sure, it's only down a billion or so dollars, but the fact that the average person's income and average spending are projected to continue lower can be concerning.
How does an economy that Americans with less income and more debt sustain in a nation that needs to make substantial profits due to the irresponsibilities of our nation?
It’s a very tough situation to analyze. We don’t provide information to scare anyone away from the market. Our thoughts are here to allow readers to internalize, stay informed, and develop a plan.
Want more on this topic? Watch this video below!
Why is Black Friday Dead?
SETUPS
Trading Levels
/ES
If I am bullish, I need to see a daily close above 4600 in the next day or so. Otherwise, going into PCE data, retail sales, and fed speaking, the market could look for support areas.
Support areas of interest are 4520 (great for intraday scalp), 4480, and 4420 (Very important level, could give us a nice swing level if we do not see closes under 4390.) A daily close above 4600 gives us 4638, or 4700.
Mid-term view #1:
We haven’t broken and held the highs in almost 3 years. I assume a healthy pullback will allow buyers to continue building demand. Assuming 3500 was the ‘bottom,’ the 4130 zone we went long in a few weeks ago was our ‘Pull-back to bullish continuation,’ then all that's left is for 4638 to become support.
Cup and Handle
Otherwise, it is Mid-term view #2:
It's not a Cup and Handle like people are expecting because, in some instances, technical drawings mean NOTHING. It becomes a double or triple top depending on what you consider a true test to all-time highs, and we break our 4420 level and trade back to 4150s.
Lower High Test Rejection
These are my thoughts for now.
In terms of Intraday for tomorrow. Rallies may continue to get sold into 4570-78
SETUPS 2.0
Investing Ideas
Investing Perspective
$PLTR (now 19, touched 21 a few days ago)
It may be supported on dips into 14.50 -16. This company is on everyone's list now, though we first called this out in 2022, nearly $10. Our OG readers know what’s up. haha
It’s an emerging tech star. Hard resistance comes in at 23 dollars.
$AMD
Support could come in near 94, but I would love to add nearly $80/share.
$HD
$HD has been stuck in this 350-260 range for over a year. If I can grab a few shares at the bottom of this range. If the range can break and follow the DOW Jones, it would be a better buy at 230 or 190.
I like this company because it's a cash-flow business; its service is needed worldwide, and it pays a quarterly dividend of $2.09 per share.
Remember, Long term investing is about 10 years out minimum.
TRADE ALERT 🚨 RECAP
TRADING CHAT RESULTS
Currently Swinging: $SPY December 31st 420p at .90
No day trade alerts on 11/27/23
Did you make money in the stock market this month? |
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