Stock Market Update Thursday December 6, 2023
We will be adding USO OIL ETF to our premium membership!
An early rally of approximately 0.5% quickly lost momentum and by midday the indices were nearly flat. In the afternoon the indices experienced a slight decline.
Away from the stock market, the currency market remained relatively stable, while fixed income saw an increase particularly at the longer end of the spectrum. The metals market exhibited considerable volatility before closing mixed: silver decreased by 1%, whereas gold increased by 0.5%. The gold mining stocks showed mixed results with minor fluctuations.
Oil was a significant mover, as it declined by 5%. The U.S. is currently producing an excessive amount of oil, which poses a challenge for Saudi Arabia and necessitates a price adjustment in the oil market to around $40 a barrel. This adjustment is needed for the U.S. to reduce its production. The optimal time to invest in oil will be...
Our premium clients were alerted to buy the QQQ on November 1st, 2023 marking the beginning of a rally that has proven to be an exceptional rally for our premium members. Monitoring the QQQ ETF closely, we anticipate that a significant close below our threshold will trigger a sell alert and our premium members will get the alert. We are also going to put up alerts in discord as well.