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NEWS
Giving Thanks For All-Time Highs

The S&P 500 logged its best post-Thanksgiving Friday performance since 2012, with all major indices finishing in positive territory. Chip stocks rallied on reports of easing sanctions on China. Meanwhile, the dollar broke its eight-week winning streak, sliding to a one-month low. 👀

Today's issue covers risk assets continuing to rise, The Container Store slumping to fresh lows, and Bitcoin braces for another attempt at $100k. 📰

Here’s the S&P 500 heatmap. 10 of 11 sectors closed green, with discretionary (+1.03%) leading and real estate (-0.46%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $AIEV, $BSLK, $KLTO, $ATHE, $GRRR 📉 $MOBX, $RMCO, $HIMS, $ASML, $SPCE*

*If you’re a business and want to access this data via our API, email us.

STOCKS
The Trend Continues Through Thanksgiving 🥳 

Technical analysts often say, “The trend is your friend,” and boy, is that ringing true this year. The S&P 500 just closed at new all-time highs, jumping 6% for November, as it tries to secure back-to-back +20% years for the first time since 1998.

Below is a monthly chart of the S&P 500 since 2009, with the 200-day moving average showcasing this secular bull market’s long-term performance. Despite all the reasons to be negative this year, the momentum remains on the upside, and bulls are taking advantage of it while they can. 📈 

Global equities (and other risk assets) also continue to trend higher, providing a solid backdrop for U.S. stocks to climb the “wall of worry.” Here’s a good example of the German DAX pulling back to support (and getting the bears all riled up) before returning back towards all-time highs.

At some point there will be a catalyst to throw the bulls off their game. But for now, the path of least resistance remains to the upside. While that doesn’t mean being careless with your investing and trading, it probably means trying to play the short side of the market will continue to be an uphill battle. 🤷 

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