By Nigam Arora & Dr. Natasha Arora
Weekly Digest from The Arora Report is popular among serious investors and money managers because they have found studying insights from the prior week gives them an edge over the coming weeks. Here is the day by day rundown from the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers of The Arora Report.
Please scroll down for the section ‘Protection Bands and What To Do Now.’
SHOCKING JOBS REPORT BUT PAY ATTENTION TO THE NUANCES – EXCUSE FOR A FED RATE CUT
Nov 1, 2024
To gain an edge, this is what you need to know today.
Shocking Jobs Report
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows that SPY touched the top band of the support zone.
- The chart shows that SPY is bouncing upwards from the top band of the support zone on the jobs report.
- RSI on the chart shows that the stock market has relieved the overbought condition and is now able to go higher if the market likes the results of the election.
- The headline of the jobs report is a shocker. Here are the details of the jobs report:
- Nonfarm payrolls came at 12K vs. 120K consensus.
- Nonfarm private payrolls came at -28K vs. 105K consensus.
- Average hourly earnings came at 0.4% vs. 0.3% consensus.
- Average work week came at 34.3 hours vs. 34.2 hours consensus.
- Unemployment rate came at 4.1% vs. 4.1% consensus.
- In The Arora Report analysis, the low number of jobs is primarily due to hurricanes. Strikes also had a small impact. The Bureau of Labor Statistics is not quantifying the impact of hurricanes and strikes.
- In The Arora Report analysis, real nonfarm private payrolls after adjustments are likely in the range of 130K – 160K instead of the -28K reported.
- In the early trade, there is buying in bonds on the jobs report headline. The yield on 10 year Treasuries has dropped from 4.31% before the jobs report to 4.23% as of this writing.
- The stock market is seeing buying on falling yields. Prudent investors need to note the bullish tendencies of this market – when yields fall, stocks rise. However, when yields rise, stocks do not fall. This is an indication of very positive sentiment.
- The weak headline may give the Fed an excuse to cut interest rates next week.
- Today is the first day of the month. Wall Street street is front running the blind money that pours into Wall Street on the first two days of the month. Blind money is the money that is invested without any analysis and irrespective of market conditions.
- This has been the busiest week for earnings. Among important new earnings, oil giants Chevron (CVX) and Exxon (XOM) are reporting earnings better than the consensus and whisper numbers. Amazon (AMZN) reported earnings significantly better than the consensus and whisper numbers. Apple (AAPL) reported earnings inline with consensus but slightly weaker than whisper numbers. Intel (INTC) reported earnings better than the consensus and whisper numbers.
- Overall, earnings reported so far are slightly weaker than expectations. This indicates high risk in this market because the stock market is priced for perfection.
- As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.
U.K.
The 10 year gilt yield has spiked by 25 bps in a few days to 4.5%. U.K. bonds are experiencing their worst week in a year.
The rise in yields in the U.K. is a result of the borrowing and spending plans of the new government. In The Arora Report analysis, here is a lesson for U.S. investors as both Harris and Trump are planning to recklessly borrow and spend.
Magnificent Seven Money Flows
In the early trade, money flows are positive in AMZN, Nvidia (NVDA), Microsoft (MSFT), Meta (META), and Tesla (TSLA).
In the early trade, money flows are neutral in Alphabet (GOOG).
In the early trade, money flows are negative in AAPL.
In the early trade, money flows are positive in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).
Momo Crowd And Smart Money In Stocks
The momo crowd is *** (To see the locked content, please take a 30 day free trial) stocks in the early trade. Smart money is *** in the early trade.
Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling. Over a long period of time, investors come out ahead by adopting smart money’s ways. The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money.
Very Very Short-Term Indicator
Our very, very short-term early stock market indicator is ***. Remember today is a Friday. Short squeezes often occur on Fridays. This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.
Gold
Gold saw profit taking yesterday ahead of the jobs report. However, there is buying in gold in the early trade today on the weak headline jobs report number.
The momo crowd is *** gold in the early trade. Smart money is *** in the early trade.
For longer-term, please see gold and silver ratings.
Oil
There are rumors that Iran is planning to attack Israel from Iraqi territory. As a result, oil is rising.
The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.
For longer-term, please see oil ratings.
Bitcoin
Bitcoin (BTC.USD) is range bound.
Markets
Interest rates are ticking down, and bonds are ticking up.
The dollar is weaker.
Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.
S&P 500 futures are trading at 5765 as of this writing. S&P 500 futures resistance levels are 5926 and 6017: support levels are 5748, 5622, and 5500.
DJIA futures are up 167 points.
Gold futures are at $2765, silver futures are at $33.02, and oil futures are at $71.03.
Protection Band And What To Do Now
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider holding *** in cash, Treasury bills, short term fixed income, or allocated to short-term tactical trades; and short to medium-term hedges of ***, and short term hedges of ***. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges. The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive. If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash. A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash. When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks. High beta stocks are the ones that move more than the market.
Traditional 60/40 Portfolio
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less. Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
HERE IS WHY INVESTORS DO NOT LIKE GOOD EARNINGS FROM MICROSOFT AND META, HOTTER INFLATION DATA
Oct 31, 2024
To gain an edge, this is what you need to know today.
Unrealistic Expectations
Please click here for a chart of Microsoft stock (MSFT).
Note the following:
- The Morning Capsule is about the big picture, not an individual stock. The chart of MSFT stock is being used to illustrate the point.
- The chart shows when Microsoft earnings were released.
- The chart shows MSFT stock initially spiked higher on earnings better than the consensus and whisper numbers.
- The chart shows when MSFT stock dropped on comments of slower Azure growth during Microsoft’s conference call.
- Azure growth came at 34% vs. 31% consensus.
- Azure growth is expected to slow to 31% – 32%.
- In The Arora Report analysis, investors are selling MSFT stock because their expectations were unrealistically high. Regarding Azure growth, investors are ignoring the following:
- Azure growth should pick up in the second half of 2025.
- Microsoft is capacity constrained. In due course, capacity will increase as supply of Nvidia (NVDA) chips increases.
- Generative AI contributed 12% to Azure.
- Generative AI is expected to exceed a $10B run-rate in Q2 2025.
- The Arora Report’s proprietary VUD indicator shows net supply of MSFT stock yesterday afternoon leading into and during the earnings release.
- Meta (META) reported great earnings. Investors are overlooking the great earnings and focusing on the high spending.
- In The Arora Report analysis, Meta’s capital expenditure is not out of line with its ambitious AI goals.
- Meta anticipates 2024 capital expenditure to be $38B – $40B from prior $37B – $40B.
- Initial jobless claims came at 216K vs. 229K consensus. This indicates that the jobs picture remains strong.
- The U.S. economy is 70% consumer based. For this reason, prudent investors pay attention to personal income and personal spending. Personal spending is strong. Here are the details of the new personal income and spending data:
- Personal income came at 0.3% vs. 0.4% consensus.
- Personal spending came at 0.5% vs. 0.4% consensus.
- PCE is the Fed’s favorite inflation gauge. The core data is hotter than expected. Here are the details:
- PCE came at 0.2% vs. 0.2% consensus.
- Core PCE came at 0.3% vs. 0.2% consensus.
- The official jobs report will be released tomorrow at 8:30am ET. It is an important data point for the state of the jobs market ahead of the FOMC meeting next week.
- Amazon (AMZN) and Apple (AAPL) report earnings today after the close.
- As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.
Magnificent Seven Money Flows
In the early trade, money flows are neutral in AAPL and Tesla (TSLA).
In the early trade, money flows are negative in Alphabet (GOOG), META, AMZN, NVDA, and MSFT.
In the early trade, money flows are negative in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).
Momo Crowd And Smart Money In Stocks
The momo crowd is *** stocks in the early trade. Smart money is *** in the early trade.
Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling. Over a long period of time, investors come out ahead by adopting smart money’s ways. The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money.
Very Very Short-Term Indicator
Our very, very short-term early stock market indicator is ***. This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.
Gold
The momo crowd is *** gold in the early trade. Smart money is *** in the early trade.
For longer-term, please see gold and silver ratings.
Oil
The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.
For longer-term, please see oil ratings.
Bitcoin
Bitcoin (BTC.USD) is range bound.
Markets
Interest rates are ticking up, and bonds are ticking down.
The dollar is down.
Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.
S&P 500 futures are trading at 5812 as of this writing. S&P 500 futures resistance levels are 5926 and 6017: support levels are 5748, 5622, and 5500.
DJIA futures are down 242 points.
Gold futures are at $2782, silver futures are at $33.56, and oil futures are at $69.23.
AMD EARNINGS SHOW POWER OF NVIDIA SOFTWARE, ADP DATA DEFIES EXPECTATIONS
Oct 30, 2024
To gain an edge, this is what you need to know today.
Strong ADP Data
Please click here for a chart of Advanced Micro Devices (AMD).
Note the following:
- The Morning Capsule is about the big picture, not an individual stock. The chart of AMD stock is being used to illustrate the point.
- The chart shows the momo crowd buying AMD stock yesterday ahead of the earnings release.
- The chart shows when earnings were released.
- The chart shows the drop in AMD stock after earnings.
- The chart shows the proprietary Arora Report VUD indicator changed to orange when earnings were released and continues to be orange today in the premarket. This indicates a net supply of AMD stock.
- AMD reported earnings inline with the consensus and provided decent guidance. Why did the stock fall? The reason is that the whisper numbers for AI GPU guidance were approaching $6B. AMD guided above $5B for 2024 – this was inline with consensus. As we have been sharing with you, stocks move based on the difference between reported numbers and whisper numbers.
- The reason that AMD was not able to meet the whisper numbers is that even though AMD chips for AI are excellent, AMD does not have the software and the whole system like Nvidia (NVDA). This limits AMD’s market even though AMD is offering cheaper price points compared to Nvidia. AMD has recently bought a systems company in an attempt to catch up to NVDA. However, in The Arora Report analysis, it will take a long time for AMD to catch up with NVDA. Nvidia’s CUDA is a parallel computing platform and programming model. Thousands of developers have been using CUDA to harness the power of AI for years.
- Alphabet (GOOG, GOOGL) reported earnings yesterday after the close. Alphabet earnings show data center growth. Data center growth means AI growth. However, in The Arora Report analysis, there is risk in GOOG stock because Google has over 90% of the search market. It is hard to see Google gaining share from here. Even a drop of a few percentage points will substantially hit earnings.
- Those who want to develop a deeper understanding of investing in AI may consider listening to the podcasts in Arora Ambassador Club.
- Microsoft (MSFT) and Meta (META) earnings are ahead after the close. In The Arora Report analysis, stocks will move based not only on the earnings but how well the companies are able to monetize AI.
- The Arora Report was one of the first to call that AI was real and a fortune was to be made from AI. We have also been sharing with you that it is important to develop deep knowledge because at times it will be treacherous. We have illustrated the treacherousness of following the momo crowd in AI with the example of Super Micro Computer (SMCI). When everyone was bullish and SMCI was trading above $120, The Arora Report call was that SMCI was worth only $44 – $48 at best. SMCI is falling about 33% to about $32 as of this writing in the premarket on the news that its independent auditor resigned.
- Just released GDP data shows that the economy is strong even though the numbers are less than the consensus. GDP is a lagging indicator. The Arora Report system focuses on leading indicators. Here are the details of the GDP data:
- Q3 GDP-Adv came at 2.8% vs. 3.0% consensus.
- Q3 Chain Deflator-Adv came at 1.8% vs. 2.3% consensus.
- The ADP data indicates a strong jobs picture. ADP is the largest payroll processor in the country and uses its data to give an advanced glimpse of the jobs picture ahead of the official jobs report that will be released on Friday at 8:30am ET. In The Arora Report analysis, if the official jobs report also shows a strong jobs picture, it will decrease the probability that the Fed will cut interest rates at the next meeting.
- ADP employment change came at 223K vs. 105K consensus.
- ADP data is one more data point that has gone against the reason the Fed gave to cut interest rates by 50 bps in September. As we have been writing, almost all of the data has gone against the Fed’s reasoning for cutting rates by 50 bps.
- In a major setback, Eli Lilly (LLY) missed the earnings consensus. LLY stock has fallen about 10% as of this writing in the premarket. In sympathy, the stock of Novo Nordisk (NVO) is also falling. LLY and NVO stocks have been riding high on weight loss drugs. LLY stock is in the ZYX Buy Core Model Portfolio, long from $318.45. As of this writing, LLY stock is trading at $807.
- Jobless claims, personal income and spending, and Fed’s favorite inflation gauge PCE will all be released tomorrow at 8:30am ET.
- As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.
Magnificent Seven Money Flows
In the early trade, money flows are positive in Amazon (AMZN), MSFT, GOOG, and META.
In the early trade, money flows are negative in Apple (AAPL), Tesla (TSLA), and NVDA.
In the early trade, money flows are negative in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).
Momo Crowd And Smart Money In Stocks
The momo crowd is *** stocks in the early trade. Smart money is *** in the early trade.
Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling. Over a long period of time, investors come out ahead by adopting smart money’s ways. The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money.
Very Very Short-Term Indicator
Our very, very short-term early stock market indicator is ***. This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.
Gold
The momo crowd is *** gold in the early trade. Smart money is *** in the early trade.
For longer-term, please see gold and silver ratings.
Oil
API crude inventories came at a draw of 0.573M barrels vs. a consensus of a build of 2.3M barrels.
The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.
For longer-term, please see oil ratings.
Bitcoin
Bitcoin (BTC.USD) is range bound.
Markets
Interest rates are ticking down, and bonds are ticking up.
The dollar is stronger.
Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.
S&P 500 futures are trading at 5866 as of this writing. S&P 500 futures resistance levels are 5926 and 6017: support levels are 5748, 5622, and 5500.
DJIA futures are down 51 points.
Gold futures are at $2799, silver futures are at $34.23, and oil futures are at $68.25.
RETAIL INVESTORS BETTING MONEY ON A TRUMP WIN, META TO CHALLENGE GOOGLE SEARCH DOMINANCE
Oct 29, 2024
To gain an edge, this is what you need to know today.
Aggressive Retail Investor Bets
Please click here for a chart of Alphabet stock (GOOG).
Note the following:
- The Morning Capsule is about the big picture, not an individual stock. The chart of GOOG stock is being used to illustrate the point.
- This stock market has been highly concentrated in the Mag Seven stocks.
- The stock market has been ignoring the risks in the Mag Seven.
- Here is an illustration of the risks to the Mag Seven stocks. Google has dominated search with over 90% of the market share.
- Microsoft’s (MSFT) Bing has only nominal market share. Microsoft has been gearing up to challenge Google with its Copilot. Many newcomers such as OpenAI and Perplexity are also going after Google. Now, Meta (META) the parent of Facebook and Instagram, plans to go after Google with its own web crawler. For those wanting a deeper understanding of these subjects, there are several podcasts in Arora Ambassador Club.
- The chart shows GOOG stock is nowhere near the high it made back in July. This has occurred at a time when S&P 500 has made a new high (SPX).
- The chart shows that GOOG stock has been struggling to even get into the lower resistance zone.
- The chart shows that yesterday GOOG stock broke into the lower resistance zone above the lower band of the resistance zone. The chart shows the attempt failed.
- The sum total of the foregoing for investors is that as dominant as the Mag Seven stocks are, there are challenges ahead for the Mag Seven. It is important for investors to diversify beyond the Mag Seven stocks. The easiest way to properly construct your portfolio is to take a close look at The Arora Report Model Portfolios.
- Alphabet reports earnings after the close.
- Even though the election outcome is uncertain, retail investors are aggressively betting their money that Trump will be the winner. Retail investors are rushing into the Trump trade. An example of a Trump stock is Trump Media & Technology Group (DJT). DJT stock is up about 16% as of this writing in the premarket after jumping 21.59% yesterday. Another example of Trump trade is cryptos.
- The momo crowd has been rushing into home builder stocks in anticipation of lower rates. However, as a member of The Arora Report, you knew ahead of everyone else that our call was that rates would rise. To the dismay of the momo crowd, the largest home builder in the U.S. D.R. Horton (DHI) sees FY25 revenues of $36B – $37.5B vs. $39.41B consensus. DHI is falling about 12% as of this writing in the premarket, causing huge losses for the momo crowd. DHI stock has been heavily promoted by momo gurus.
- Earnings from five Mag Seven stocks are ahead. Also ahead is important economic data.
- As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.
Magnificent Seven Money Flows
In the early trade, money flows are positive in Alphabet (GOOG) and Tesla (TSLA).
In the early trade, money flows are neutral in Amazon (AMZN), Microsoft (MSFT), and Meta (META).
In the early trade, money flows are negative in Apple (AAPL) and Nvidia (NVDA).
In the early trade, money flows are negative in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).
Momo Crowd And Smart Money In Stocks
The momo crowd is *** stocks in the early trade. Smart money is *** in the early trade.
Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling. Over a long period of time, investors come out ahead by adopting smart money’s ways. The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money.
Very Very Short-Term Indicator
Our very, very short-term early stock market indicator is ***. This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.
Gold
The momo crowd is *** gold in the early trade. Smart money is *** in the early trade.
For longer-term, please see gold and silver ratings.
Oil
The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.
For longer-term, please see oil ratings.
Bitcoin
Bitcoin (BTC.USD) is trading over $71,000 on aggressive retail investor bets that Trump will win.
Markets
Interest rates are ticking up, and bonds are ticking down.
The dollar is stronger.
Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.
S&P 500 futures are trading at 5850 as of this writing. S&P 500 futures resistance levels are 5926 and 6017: support levels are 5748, 5622, and 5500.
DJIA futures are down 169 points.
Gold futures are at $2764, silver futures are at $34.30, and oil futures are at $67.87.
FATE OF NASDAQ 100 DEPENDS ON JUST FIVE EARNINGS THIS WEEK, OIL FALLS ON ISRAEL ATTACK ON IRAN
Oct 28, 2024
To gain an edge, this is what you need to know today.
Fate Of Nasdaq 100
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows that QQQ is in the resistance zone. As a reference, S&P 500 has broken out, but QQQ has lagged.
- QQQ is dominated by the Magnificent Seven stocks. Five of the Magnificent Seven stocks are reporting earnings this week: Alphabet (GOOG, GOOGL), Amazon (AMZN), Apple (AAPL), Meta (META), and Microsoft (MSFT).
- RSI on the chart shows that it is easy for QQQ to break out. All it needs is a little spark from big tech earnings.
- This is the busiest earnings week. About one half of S&P 500 companies are reporting this week. To date, about 75% of the companies have reported above consensus. This is slightly below the five year average of 77%.
- The stock market is front running the election. The historical pattern is for the stock market to run up after the election. However, since the market has been front running the election this year, the historical pattern may not be as strong or may not even hold this year. Those wanting next level information may want to listen to the podcast titled “Front Running The Election – Money Flows And Sharp Rise In Debt” in Arora Ambassador Club. The podcast is in post production.
- In the early trade this morning, there is aggressive momo crowd buying as the momentum from front running the election continues.
- As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.
Japan
Japan’s ruling party has lost its parliamentary majority.
- The yen is falling against the dollar.
- Long term Japanese government bonds are falling.
- Japanese stocks are rising on a weaker yen because Japan’s economy is export oriented.
In The Arora Report analysis, the drop in yen may force the Bank of Japan’s (BOJ) hand to intervene by buying yen or by raising interest rates. From a long term perspective, the yen is very undervalued.
Magnificent Seven Money Flows
In the early trade, money flows are positive in Tesla (TSLA), Nvidia (NVDA), AMZN, MSFT, GOOG, META, and AAPL.
In the early trade, money flows are positive in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).
Momo Crowd And Smart Money In Stocks
The momo crowd is *** stocks in the early trade. Smart money is *** in the early trade.
Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling. Over a long period of time, investors come out ahead by adopting smart money’s ways. The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money.
Very Very Short-Term Indicator
Our very, very short-term early stock market indicator is positive but can quickly turn ***. This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.
Gold
There are crosscurrents in gold.
- There is selling in gold due to the Israeli attack on Iran. Please see the oil section below.
- There is buying in gold as investors front run the election. Both Harris and Trump are committed to reckless spending. Investors are seeking refuge in gold.
The momo crowd is *** in gold in the early trade. Smart money is *** in the early trade.
For longer-term, please see gold and silver ratings.
Oil
Oil is experiencing the biggest fall in two years. There are three reasons for the fall:
- Israel retaliated by attacking Iran, but Israel did not attack oil installations.
- Israel attacked Russian made air defense systems in Iran. It appears that in many ways Iran is now left defenseless.
- Iran’s supreme leader is leaning towards restraint to de-escalate.
The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.
For longer-term, please see oil ratings.
Bitcoin
Buying in bitcoin (BTC.USD) continues on increasing prospects of a Trump win. Trump is the recipient of very large campaign contributions from the crypto industry.
Markets
Interest rates are ticking up, and bonds are ticking down.
The dollar is weaker.
Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.
S&P 500 futures are trading at 5878 as of this writing. S&P 500 futures resistance levels are 5926 and 6017: support levels are 5748, 5622, and 5500.
DJIA futures are up 223 points.
Gold futures are at $2749, silver futures are at $33.84, and oil futures are at $67.17.
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Nigam Arora
Nigam Arora is known for his accurate stock market calls. Nigam is a distinguished master of the macro. He is a popular columnist with over 100 million page views, an engineer, and nuclear physicist by background. Nigam has founded two Inc. 500 fastest growing companies and has been involved in over 50 entrepreneurial ventures. He is the developer of Theory ZYX of Successful Change Management and is the author of the book on Theory ZYX, as well as the developer of the ZYX Change Method for Investing.
Dr. Natasha Arora
Dr. Natasha Arora has significant expertise in investment analysis especially biotech, healthcare, and technology. Natasha is a graduate of Harvard Medical School followed by a postdoc at MIT. She has published several peer reviewed research papers in top science journals.
