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Strategies & Market Trends : News Links and Chart Links

SPXL 200.43

+2.9%

Nov 21 4:00 PM EST

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From: Les H	10/24/2023 9:14:26 AM
	1 Recommendation Recommended By Lee Lichterman III Read Replies (1) of 29599

Stocks struggled to hold onto gains on Monday, despite a reprieve in the rise of interest rates following comments from recent bond bear Bill Ackman, who noted that he covered his shorts against the asset class. The S&P 500 Index closed down by two-tenths of one percent, ending for a second day below the important 200-day moving average. The horizontal band of support between 4100 and 4200 remains intact below, but a battle is playing out for market control between the bullish and bearish camps. The short-term trend remains that of lower-highs and lower-lows, remaining a threat heading into the band of support and as the market enters the best six months of the year performance. Scrutiny of the 4200 hurdle remains warranted; below this level the argument of favourable risk-reward heading into the end of the year shifts more in favour of the bears. equityclock.com FANGMAN Big Tech stocks were up 1%. Every one of META (formerly FB), AAPL, NFLX, GOOG, MSFT, AMZN, and NVDA were up.

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