Today we explore the bullish sentiment that has taken SPX valuations to the moon. There are many out there that believe we have hit a plateau on prices that will continue permanently. We talk about the quote: “Stock prices have reached ‘what looks like a permanently high plateau,’ Irving Fisher, Yale economist, told members of the Purchasing Agents Association at its monthly dinner meeting…” When did this quote come out? Carl reviews our earnings chart.
Carl looks at our signal tables to get a sense of the condition of the market. Then he discusses his outlook for the market as well as covering Bitcoin, Yields, Bonds, Gold, the Dollar, among others.
After covering the market, Carl analyzes the short- and intermediate-term charts of the Magnificent Seven. NVDA reports earnings on November 18th.
Carl takes some time to look at Real Estate (XLRE) “under the hood” and discusses its nearing Dark Cross Neutral Signal that is on tap.
Erin covers sector rotation, comparing defensive sectors to aggressive sectors. She looks under the hood at Utilities which is a sector that is showing new momentum among the sectors. With a possible market decline continuing, this defensive area of the market could find favor and continue higher.
The pair finish with looking at viewer symbol requests with an eye toward the intermediate term today.
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01:03 “…a permanently high plateau”?
03:35 DP Signal Tables
05:50 Market Analysis
15:44 Magnificent Seven
21:44 Real Estate Sector
23:12 Questions
28:06 Sector Rotation
40:06 Symbol Requests
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Erin Swenlin is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master’s degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor’s degree in Mathematics from the University of Southern California.
