On 22/11/2021 TraderTalent.com is bringing you another guest post from Bryan Noble.

After a volatile trading session U.S. Equity Markets ended Friday’s session mixed after the NDX closed at yet another new all-time high after a gain of 0.55% while the Dow closed lower by 0.75% and is now trading nearly 1000 points off its November high. Federal Reserve speakers were in focus on Friday. Fed Vice Chairman John Williams said the economy continues to rebound at a solid pace but it is still too soon to make decisions on long-term inflation. Fed Governor Christopher Waller said the Fed needed to accelerate the pace of its asset taper, as inflation may stick around longer than expected. Vice Chair Richard Clarida also said that a decision on accelerating the taper could be made at next month’s policy meeting. The House of Representatives passed President Joe Biden’s $1.8 trillion budget bill on Friday morning, but its path forward in the Senate remains unclear. There was also some focus on COVID-19 trends, mainly rising cases in the U.S. and a new wave of lockdowns across Europe. This sparked concerns that similar measures could be taken in the U.S. Within the S&P 500, eight of the 11 sectors finished lower. European Markets closed lower. Germany’s government said it would restrict leisure activities for unvaccinated people as it looks to slow the fourth wave of COVID infections Austria’s government is reimposing full coronavirus restriction measures beginning Monday for a maximum of 20 days, moving beyond just unvaccinated individuals. German Producer Price Index (“PPI”) data for October exceeded expectations, as energy-related items continued to drive up costs. In Asia, Japan’s government unveiled a $490 billion stimulus package in an attempt to resuscitate economic growth hurt by COVID restrictions. Japan’s core Consumer Price Index (“CPI”) data for October was in line with expectations, but fell from September, remaining well below the central bank’s 2% target. The People’s Bank of China warned financial institutions against “making a one-way bet” on the Yuan, as the currency rose to its highest level since 2015. South Korea’s PPI numbers for October rose from September, hitting the highest level since 2008, likely increasing pressure on the Bank of Korea to raise interest rates next week. Elsewhere, Oil fell 3.57% on concerns that new lockdowns would weigh on demand at a time when countries are increasing supply while Gold declined 0.71% on dollar strength.

To mark my 2425th issue of TraderNoble Daily Commentary I am offering a special 2-Year Rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day to demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on [email protected] for details

For anyone following my Platinum Service it made 198 points last Friday, and is now ahead by 988 points for November, after ending October with a gain of 1028 points, 2866 points in September, 1543 points in August, and 996 points in July. The Platinum Service made 1366 points in June, 1439 points in May, 1244 points in April, having ended March with an impressive gain of 3769 points, 3286 points in February, 2077 points in January, and 2273 points last December. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

Equities

The S&P 500 closed 0.14% lower at a price of 4697.

The Dow Jones Industrial Average closed 270 points lower for a 0.75% loss at a price of 35,601.

The NASDAQ 100 closed 0.55% higher at a price of 16,573.

The Stoxx Europe 600 Index closed 0.4% lower.

Last Friday, the MSCI Asia Pacific Index fell 0.4%.

Last Friday, the Nikkei closed 0.50% higher at a price of 29,745.

Currencies

The Bloomberg Dollar Spot Index closed 0.6% higher.

The Euro closed 0.6% lower at $1.1290.

The British Pound closed 0.4% lower at 1.3445.

The Japanese Yen rose 0.2%, closing at $114.02.

Bonds

Germany’s 10-year yield closed seven basis points lower at -0.34%.

Britain’s 10-year yield closed five basis points lower at 0.88%.

US 10 Year Treasury closed five basis points lower at 1.54%.

Commodities

West Texas Intermediate crude closed 3.57% lower at $75.61 a barrel.

Gold closed 0.71% lower at $1,847.10 an ounce.

This morning on the Economic Front we have no Economic Data due from either the U.K. or the Euro-Zone. At 1.30 pm we have the Chicago Fed National Activity Index. Finally, at 3.00 pm we have U.S. Existing Home Sales and Euro-Zone Consumer Confidence.

December S&P 500

My S&P plan worked well with the market trading higher to my 4715 sell level before selling off to my 4703 T/P level and I am still flat. This is a fractured market with massive negative divergence across all the main U.S. Indexes as the NDX makes new all-time highs while the Dow gets hit hard over the past two weeks. Meanwhile the S&P is caught in the middle. Early Friday morning the December Futures Contract made a new high at 4722.50 before selling off on the news that Austria has gone back into lockdown. The S&P keeps pushing higher, driven by a few teach stocks while everything else is dumping. The Dow needs to hold the September high or else this correction could take a nasty turn and accelerate to the downside.  Remember this is Thanksgiving Week in America and no one is expecting a sell-off. The S&P has resistance from 4709/4724 where I will again be a seller with a 4737 wider ‘’Closing Price’’ stop. Meanwhile, I will leave my 4650/4665 buy level unchanged with the same 4639 ‘’Closing Stop’’. If I am taken short I will have a T/P level at 4698. If I am taken long I will have a T/P level at 4677.

EUR/USD

The Euro got hit hard on Friday, trading the whole of my buy range for a 1.1295 average long position. As I wanted to be flat over the weekend, I covered this position at my 1.1318 revised T/P level. With the DSI in single digits I am not expecting much of a further sell-off in the Euro from current levels. We have support from 1.1190/1.1250 where I will again be a buyer with a 1.1135 stop. If I am taken long I will have a T/P level at 1.1290.

December Dollar Index

My Dollar plan worked well with the market trading higher to my 96.05 sell level before selling off to my 95.82 revised T/P level and I am still flat. Today, I will again be a seller from 96.40/96.90 with a higher 97.35 stop. If I am taken short I will have a T/P level at 96.10.

December DAX

The DAX just missed my 16310 sell level by 20 points before falling 200 points as thankfully we had no buy level in the market. Much higher than expected inflation data did not help. I will now lower my sell level to 16250/16330 with a 16415 wider stop. If I am taken short I will have a T/P level at 16205.

December FTSE

The FTSE got hit hard on Friday as it is now only a matter of time before the Bank of England raise Interest Rates. I will now lower my sell level to 7250/7310 with a 7355 stop. I still do not want to be long the FTSE at this time. If I am taken short I will have a T/P level at 7220.

Dow Rolling Contract

The Dow made a new three-week low on Friday. The price action is not good. However, the Dow is short-term oversold after falling 1000 points over the past two weeks. Friday’s move lower saw the whole of my buy range filled and I am now long at an average rate of 35630. I will now lower my T/P level on this position to 35710 while leaving my 35425 ‘’Closing Stop’’ unchanged.

December NASDAQ

Incredibly the Nasdaq closed at a new all-time high on Friday despite the number of new lows in the Composite Index surging to 425. This is the highest level of new lows since the market meltdown of February-March 2020. It vividly shows how concentrated this stock market rally is, with only a select number of issues pushing the Nasdaq higher. Friday’s move higher has me short at a price of 16610. I will add to this trade at 16700 while leaving my stop unchanged at 16805. I will now raise my T/P level on this short-position to 15545.

December BUND

I was lucky on Friday as shortly after the Bund opened at 7.00 am the Bund traded lower to my 171.05 T/P level on Thursday’s 171.32 short position and I am still flat. The Bund soared on Friday, rising 120 points with the yield falling to -34 basis points. The Bund has resistance from 172.50/173.10 where I will again be a seller with a 173.55 stop. If I am taken short  I will have a T/P level at 172.15.

Gold Rolling Contract

I am still flat Gold as the market missed Friday’s buy level despite having a weak session. The real support for Gold is from 1814/1829 and I will now lower my buy level to this area with a 1805 stop. If I am taken long I will have a T/P level at 1837.

Silver Rolling Contract

Silver traded in a narrow range since my Daily Commentary was posted on Friday and I am still flat. Just like Gold above, I will now lower my level to 23.60/24.20 with a 22.95 stop. If I am taken long I will have a T/P level at 24.55.

Your Platinum Subscription intraday updates will appear here once they are published.

Hi Everyone

A volatile trading session so far to start the Thanksgiving Week with a number of my calls getting hit
The S&P traded the whole of my sell range for a 4717 average short position before trading lower  to my 4698 T/P level and I am now flat.
The NASDAQ hit my second sell level at 16700 for a 16655 average short position before selling off to my 16545 T/P level and I am now flat
Earlier the Dow hit my 35710 T/P level on my 35610 average long position and I am now flat
Both the FTSE and Bund hit my sell levels at 7250 and 172.50 respectively before hitting my T/P levels at 7220 for  the FTSE and 172.15 for the Bund
The Euro traded lower to my buy range  and I am now long at 1.1240 with a now lower 1.1280 T/P level.
Finally, the precious metals got slammed confirming my worries about the price of Gold
Gold traded the whole of my buy range for a now 1819 average long position. I will now lower my stop on this position to 1799
I bought Silver at a price of 24.20.
Kind Regards
Bryan
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