On 30/11/2021 TraderTalent.com is bringing you another guest post from Bryan Noble.

U.S. Equity Markets reversed 50% of Friday’s declines, as health officials and Governments tried to play down the threat of Omicron. The NDX led the rally, closing higher by 2.33%. The White House said it would join other nations banning travellers from eight southern African nations in an attempt to limit the spread of the COVID Omicron variant. But Wall Street thinks (for now at least) that the Omicron variant won’t be as bad as initially feared. President Joe Biden said the U.S. will not need a new round of lockdowns to fight the newly discovered variant, meaning economic activity can continue as is. That helped markets bounce back in yesterday’s session. In terms of economic data, Pending Home Sales surged, beating estimates. This puts the U.S. housing market on the best yearly sales pace in 15 years, according to the National Association of Realtors. That is another sign of strength for the housing market. Within the S&P 500, all 11 sectors finished higher. European Markets closed higher. The British government called for a Group of Seven meeting of health ministers to discuss the new COVID variant and steps that can be taken to prevent its spread. The Organisation of Petroleum Exporting Countries (“OPEC”) and its non-member allies delayed an output meeting until later this week to assess the impact of the new COVID variant. European Central Bank Governing Council member Fabio Panetta said it has no desire to raise interest rates, as it would cause more harm than good. In Asia, China’s National Development and Reform Commission said it had summoned coal producers and miners to discuss pricing improvements, following recent increases. Japan’s Ministry of Economy, Trade, and Industry’s October Retail Sales data was stronger than expected, as spending increased on fuel and clothing. China’s industrial profit figures for October rose from September, gaining for the second straight month, as Beijing said price-stability policies were taking hold. Taiwan’s Ministry of National Defense said 27 airplanes from China entered its southwest air defense identification zone in response to a visit from a U.S. politician. Elsewhere, Bitcoin rose 7.42% along with risk assets, while Oil closed 1.50% higher.

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 135 points yesterday, and is now ahead by 1503 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 1.32% higher at a price of 4655.

The Dow Jones Industrial Average closed 236 points higher for a 0.68% gain at a price of 35,135.

The NASDAQ 100 closed 2.33% higher at a price of 16,399.

The Stoxx Europe 600 Index closed 1.4% higher.

Yesterday, the MSCI Asia Pacific Index0.8%.

Yesterday, the Nikkei closed 1.63% lower at a price of 28,283.

Currencies

The Bloomberg Dollar Spot Index closed 0.3% higher.

The Euro closed 0.2% lower at $1.1278.

The British Pound closed 0.2% lower at 1.3298.

The Japanese Yen fell 0.3%, closing at $113.65.

Bonds

Germany’s 10-year yield closed three basis points higher at -0.31%.

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

US 10 Year Treasury closed four basis points higher at 1.52%.

Commodities

West Texas Intermediate crude closed 1.50% lower at $69.55 a barrel.

Gold closed 0.19% lower at $1,784.10 an ounce.

This morning on the Economic Front we have German Unemployment at 8.55 am, followed by Euro-Zone CPI at 10.00 am. Next, we have U.S. Housing Price Index and the Chicago Purchasing Managers’ Index at 2.00 pm and 2.45 pm respectively. This is followed by Consumer Sentiment at 3.00 pm. Finally, Fed Chair Powell will speak at 3.00 pm and Fed Member Clarida at 600 pm

December S&P 500

The S&P recovered 52% of Friday’s sell-off as expected given the large ‘’Open Gap’’ from last Thursday of 4710. This move higher saw my 4658 sell level executed. I am still short with a now higher 4645 T/P level. I will add to this position at a higher level of 4678 with a now 4691 ”Closing Stop”. While, it is still possible for the S&P to completely close the Gap from last Thursday’s Chicago close, I will be a seller into this rally as sentiment is still compatible with a rally that is at or near an end given the level of complacency in the market. It is no coincidence that the CEO of Microsoft sold 50% of his holding over the past few days while of course we know that Elon Musk sold $10bn of his Tesla Holdings at the same time. The S&P has support from 4595/4610 where I will be a buyer with a 4683 stop. If I am taken long I will have a T/P level at 4625.

EUR/USD

The Euro traded in a narrow range since I posted early yesterday morning and I am still flat. I will continue to be a buyer on any dip lower to 1.1190/1.1240 with the same 1.1145 stop. The Euro has resistance from 1.1335/1.1435 where I will be a small seller with a 1.1481 stop. If I am taken long I will have a T/P level at 1.1275. If I am taken short I will have a T/P level at 1.1305.

December Dollar Index

No Change. I am still a small seller from 96.50/97.00 with the same 97.35 tight stop. I still do not want to be long the  Dollar at this time given Friday’s possible trend reversal. If I am taken short I will have a T/P level at 96.20.

December DAX

Although the DAX closed higher, higher than expected German Inflation capped the DAX’s move higher yesterday. I am still flat as the market never came close to my buy range. I will now raise my buy level to 14980/15130 with a higher 14875 Stop. I still do not want to be short the DAX at this time. If  I am taken long I will have a T/P level at 15180.

December FTSE

The FTSE rallied small yesterday and I am still flat. I will now raise my buy level to 6990/7050 with a higher 6935 stop. I still do not want to be short the FTSE at this time. If I am taken long I will have a T/P level at 7085.

Dow Rolling Contract

My Dow plan worked well with the market trading higher to my 35280 sell level before falling over 350 points. This move lower saw my 35145 T/P level filled and I am still flat. So far the 50 Day MA is holding (35280) while both the S&P and NDX continue to trade above their respective 50-Day Moving Averages. Today, I will again be a seller from 35380/35540 with a tight 35685 ‘’Closing Price’’ stop. I will now raise my buy level higher to 34780/34930 with a wider 34615 ‘’Closing Stop’’. If I am taken short I will have a T/P level at 35260. If I am taken long I will have a T/P level at 35095.

December NASDAQ

The NDX reversed most of Friday’s sell off, closing higher by almost 2.5%. This move higher saw the whole of my sell range executed and I am now short at an average rate of 16265 with the same 16405 ‘’Closing Stop’’. Yet again the McClellan Oscillator proved what an excellent trading signal it is as you just cannot be short any of the U.S. Indexes when the MO is -230 or lower. I will now raise my  T/P level on this position to 16220.

December BUND

The Bund missed yesterday’s buy level before trading lower and I am still flat. I will now lower my sell level to 172.60/173.20 with a tight 173.61 stop. If I am taken short I will have a T/P level at 172.30.

Gold Rolling Contract

Gold traded in a narrow range yesterday and I am still flat. As I am still long Silver, I will now lower my Gold buy level to 1748/1763 with a lower 1735 stop. If I am taken long I will have a T/P level at 1771.

Silver Rolling Contract

No Change. I am still long at a price of 23.05 with the same 23.40 T/P level. I will add to this trade at 22.45 while leaving my 21.95 stop unchanged.

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

Hi Everyone

News that  COVID Antibody Drugs are not as effective against the Omicron Variant saw a large  sell-off in Global Stock Markets with a number of my calls hit as a result
Earlier the S&P traded lower to my 4645 T/P level on yesterday’s 4658 short position.
Subsequently we traded the whole of my buy range for a 4602 average long position. We have rallied and I have now exited this position here at  4618
The FTSE traded the  whole of my buy range for a 7020 average long position and I have now exited this position here at 7066 and I am now flat
The DAX opened at 7.00 am near the bottom of my buy range  allowing me to buy the market at 15005. I have now exited this position here at 15132
The Dow also traded the whole of my buy range. Again just like the DAX above the Dow was selling off aggressively at 7.00 am. I bought the Dow at the bottom of my  buy range at 34780. Hopefully, you were able to buy at a cheaper price as the low so far today is 34498. I will now lower my T/P level on this position to 34930.
The Bund hot my 172.65 sell level before trading lower to my 172.30 T/P level in the last few minutes and I am now flat
I will look to buy the S&P again from 4570/4585 with a 4549 wider ”Closing Stop”. If I am taken long I will have a T/P level at 4608.
I am still short the NDX from yesterday at 16265 with the same 16220 T/P level.
Kind Regards
Bryan
Update 2
Hi Everyone

As if we did not have enough volatility? Fed Chair Powell said that it was time to retire the word ”Transitory” for inflation sparking a dramatic move lower in U.S. Indexes in the last 30 minutes with the NDX leading this latest move lower, as the market hit my 16220 T/P level and I am now flat
Earlier the Dow rallied to my 34930 T/P level on this morning’s 34780 long position and I am now flat. The Dow is now trading 300 points lower.
The Euro rallied to a high of 1.1384, hitting my 1.1350 sell level before selling off on Powell to hit my 1.1305 T/P level and I am now flat.
I am still long Silver. As I go to press the S&P is getting crushed and has hit my second buy level at 4580. I will now lower my T/P level on this trade to 4596
Kind Regards
Bryan
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