Like any market price movement, the Christmas rally also tends to move in 2 bullish phases and one bearish phase. Around November 17, a temporary maximum was formed which in these days is testing its movements. What will happen on November 26 on Wall Street and why is it so important? On Friday a monthly setup will expire and then the next (annual and therefore very important) day 8 December.
Why is it important tomorrow? Very simple, there will be weekly closings and the next movement will depend on how prices will position themselves with respect to the main supports that we indicate in the next paragraph.
Recall that Wall Street today will be closed for Thanksgiving and that tomorrow the markets will remain open at reduced hours. Therefore, given the low volumes expected, tomorrow’s signal will then have to be confirmed also at the close of the trading day on Monday.
The pricing scheme to keep the pulse of the situation and set your own trading strategy
Short signal of very short. New bullish trend with a daily close above 35,880. Longer downsides are now possible and these will only be negated by a weekly close above 36,317.
Short signal of very short. New bullish trend with a daily close above 15,896. Long-lasting downside with a weekly close of less than 15,778.
Short signal of very short. New bullish trend with a daily close above 4,744. Long-lasting downside with a weekly close below 4,595.
Which trading operations to set up short-term and which ones to keep?
Short-term flat pending the indicated swings (3/10 days perspective) on Dow Jones and Nasdaq C. and on the S&P 500. Long instead in a monthly and quarterly perspective, for the other time frames, but pay attention to tomorrow’s closing which could lead to changes in the trend precisely on this time axis.
After evaluating what will happen on November 26 on Wall Street and why it is so important, we are now going to monitor how some leading stocks are positioned from the graphic point of view. We have chosen two and they are Amazon and Apple.
Analysis on 2 titles
The fair value calculations were carried out by our Research Department on the basis of the economic parameters used by the same.
Amazon, last price at 3,580.41. Fair value at $ 5,400. Short signal of very short. New bullish trend with a daily close above 3.622. Long-lasting downside with a weekly close of less than 3,525.
Apple, last price at 161.94. Fair value at $ 180. Long signal of very short. Bearish trend with a daily close below 159.06. Long-lasting downside with a weekly close below 149.34.
(We remind you to carefully read the warnings regarding this article, which can be consulted HERE”)