Stock Market Update Friday December 1, 2023 Jerome Powell and Co Let's The Party Continue. The stock market is witnessing a remarkable rally, with the S&P 500 and Dow Jones Industrial Average soaring to new heights. This surge, largely influenced by Jerome Powell and the Federal Reserve, has kept the market momentum robust, much to the delight of investors.
S&P 500 and Dow Jones Reach New Milestones In an impressive display of market strength, the S&P500 closed at new highs for 2023, while the Dow Jones scaled even greater heights, closing at another all-time high in 2023. This recent spike up aligns perfectly with our previous Stock Market Daily Update, confirming our anticipations.
Strategic Approach: Waiting for Sell Alerts Following this spike, our current strategy shifts to a 'wait and see' approach. We are closely monitoring our proprietary algorithms, awaiting a sell alert that will indicate the optimal time to adjust our positions, in line with the evolving market dynamics.
Movements in Treasury Yields and Commodities On the treasury front, yields have taken a significant dip. The two-year note and the long bond yields dropped to 4.56% and 4.4%, respectively, marking a notable decrease in both. In the commodities market, gold is on the verge of reaching a new peak, currently priced at $2,071 an ounce. Meanwhile, WTI crude oil experienced a decline, falling below $75 a barrel. The VIX, an indicator of market volatility, remains below 13, suggesting a relatively calm market environment amidst these fluctuations.
The current stock market scenario, fueled by the Federal Reserve's actions, presents a continued opportunity for growth and profit. As the market hits new highs, our focus remains on leveraging our proprietary algorithms to identify the right moment to make strategic moves. Join our premium membership for further updates and insights as we navigate these exciting market conditions.
Some important charts we are following for the uptrend to continue or something else