For Wall Street today is a decisive day but it is semi-demonstrative and therefore it is better to wait for confirmation from Monday

Our contention is that the retracement that started around the November 17th setup should find bottom on November 26th or the next December 8th setup. As usual, we will proceed step by step and follow the trend that will form day by day. We are in fact supporters of the trend is your friend strategy.

Today it is important because the weekly closings will tell us if by Monday, at the latest Tuesday of next week we will return to the upside or not.

“HYCM”/

For Wall Street today is a decisive day but it is semi-demonstrative and therefore it is better to wait for confirmation from Monday.

What are the levels to monitor for today?

Dow Jones

Short signal of very short. New bullish trend with a daily close above 35,880. Longer downturns are now possible and these will only be negated by a weekly close above 36,317.

Nasdaq C.

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.

S&P 500

Short signal of very short. New bullish trend with a daily close above 4,744. Long-lasting downside with a weekly close of less than 4.595.

In light of these indications, which operations should be maintained?

Short-term flat (3/10 days perspective) on Dow Jones and Nasdaq C. and on the S&P 500 awaiting confirmation or not from the weekly time frame. On all the higher time frames, the current signal is firmly bullish and this is the reason that makes us think that the current one is a mere retracement preparatory to further strong rises at least in a quarterly and half-yearly perspective.

For Wall Street today is a decisive day but it is semi-demonstrative and therefore it is better to wait for confirmation from Monday

What are the stocks to buy if and when this bearish phase ends?

There are several stocks on the US lists that still show interesting levels of undervaluation. They are Alphabet (formerly Google) Amazon, Apple, JPMorgan, Microsoft and Netflix.

(We remind you to carefully read the warnings regarding this article, which can be consulted WHO”)

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