Over the weekend, U.S. Congress reached an emergency agreement to pass a temporary budget resolution, successfully avoiding a government shutdown. In Canada, October GDP grew by 0.3% month-over-month, beating expectations; however, Statistics Canada forecasts a contraction of -0.1% for November, marking the first monthly decline in recent periods.
On Friday, the major indices rebounded sharply after filling the election gap, briefly climbing back above their mid-term moving averages. In pre-market trading, prices are slightly pulling back, with more decliners than gainers among individual stocks, though tech remains relatively strong.
Quantum computing stocks are leading again after a rapid correction last week:
• RGTI +28%, QUBT +14%
• QCOM +3% after winning part of a patent dispute against ARM (-3%)
• Other stocks are showing only minor moves.
⸻
Key Levels – SPY:
• SPY intraday resistance remains at the mid-term moving average.
• Whether the price can regain and hold above that level will be key to determining if the correction is over.
• Watch the $590–596 zone at the open; a break below the lower bound could trigger a test of support levels beneath.
⸻
Stock Focus:
• AAPL: Watch closely to see if it can hold above the $255 zone and continue its upward breakout. It was one of the few major stocks that withstood last week’s broad-market decline.
• NVDA: After a long correction, it briefly broke a critical support but quickly bounced back above $140, suggesting the breakdown may have been a bear trap.
• Other strong performers include:
• PLTR (AI theme)
• ALAB (photonics and optical interconnect)
• V and MA (credit card giants)
More Information/Reports/Video/Analysis please contact us—info@the-currency-store.com. We offer fully customised content services tailored to you needs.
Add comment
Comments