Business & Investment

Why the stock market could peak on Friday before the “minor” dip Thanksgiving week

The stock market widened the wall of concern in 2021 and stands within the screams of new record for major indexes, but Fundstrat’s new technical analysts said the benchmark peaked this week as the holidays approached. Claiming to be approaching is in progress.

Mark Newton, a technical strategist at the fund strategist, said that careful buying in the market is believed to be gaining defensive traction in some parts of the market, with trading volumes due to Thanksgiving in the United States. He said it is likely to retreat next week as it declines.This week, driven by increased consumer discretion
SP500.25,
+ 0.59%
,
1.9%, utility
SP500.55,
+ 0.14%
,
0.9% higher, high tech
SP500.45,
-0.39%
,
0.5% increase, real estate
SP500.60,
+ 0.65%
,
It is 0.5% ahead.

Fundstrat people appear to have a fairly bullish view of the market in the long run, but in the short run, cases of COVID-19 in parts of the United States and elsewhere in the world. New surges and sustained inflation jitter (some economists also have price pressures) Approaching the peak) May create an opportunity for “a small” wall of worry “to be built” next week.

The US market will be closed next Thursday to comply with Thanksgiving, marking a shortened session that is historically one of the least abundant days on Wall Street.

Despite many annoying issues, including uncertainty about Federal Reserve leadership, Newton is more relevant to recession than market air pockets that would otherwise appear to be on a bullish trajectory. Seemed to be reluctant.

“But as we are’buyers of this depression’-so even with expectations of short-term weaknesses, the market is [year-end]”The people of Fundstrat write. A prominent technical analyst, Newton joined the Fender Strat, co-founded by Tom Lee and John Bai in 2014, as head of technical analysis.

The market has already shown some volatile trading after all three benchmarks on Tuesday closed within record highs.Dow Jones Industrial Average
DJIA,
-0.58%

So far this week it’s down 0.5%, but the S & P 500
SPX,
-0.26%

Is making a profit of 0.1% a week, and the Nasdaq Composite Index is
COMP,
-0.33%

So far this week it is 0.4% higher.Meanwhile, the Russell 2000 Index for small cap stocks
Sakari,
-1.16%

It is down 1.4% a week.

Fundstrat has set price targets for a wide range of markets S & P 500, 4,800Strong trading in October, a weak month for equities, up from 4,700 about a month ago, shows that there is a tendency to increase purchases for the rest of the year.

Why the stock market could peak on Friday before the “minor” dip Thanksgiving week

http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7780-2AAAE5395962%7D&siteid=rss&rss=1 Why the stock market could peak on Friday before the “minor” dip Thanksgiving week

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