Wall Street Strategies
Hello! Sign in or Register

Afternoon Note

Day of Records

By Charles Payne, CEO & Principal Analyst
11/24/2020 1:20 PM

It’s a day of records.  The Dow topped 30,000 for the first time ever.  The Russell 2000 hit an all-time high. Housing Prices are increasing at a record pace.

All 11 S&P 500 sectors are in the green led by Energy, which has been on a tear. WTI is up over 4.2% and trading at $44.86 per barrel, as big money keeps flowing into Energy at “mind boggling” rates.  

S&P 500 Index


Communication Services XLC


Consumer Discretionary XLY


Consumer Staples XLP


Energy XLE


Financials XLF


Health Care XLV


Industrials XLI


Materials XLB


Real Estate XLRE


Technology XLK


Utilities XLU



Breadth is decidedly positive, especially on the NYSE were advancers and up volume are leading decliners and down volume 4-1. New 52-week highs are also blowing past new lows, with only 2 on the NYSE.

Market Breadth









52 Week High



52 Week Low



Up Volume



Down Volume



Housing prices continue to soar and climbed another 1.7% in September topping consensus for an 1.1% increase. This marked the largest single month increase since 1991 when the record tracking began.   Housing prices are up 9.1% year over year. Low interest rates and a continued migration from the city to the burbs is driving demand. 

Consumer confidence was a bit of a disappointment, dropping to 96.1 vs projections for 96.5 and down from an October’s upwardly revised 101.4.  Overall, consumers were not as confident about the economy and employment going into 2021 and optimism about business conditions in the next six months declined.

Thanks for your daily commentary Charles, it's very helpful.
Just finished watching your DVD, learned a lot. So, time to make my portfolio more balanced!
Now to get going on your book! Thanks for all the great information, my trading is getting better now because of it. I appreciate that very much! Happy Thanksgiving Sir! Leo

Leo Causlland on 11/24/2020 1:43:31 PM
I know that I've gotten a couple of these but this is the first one that I've stopped to look at. Useful and appreciated.

Donald Stewart on 11/24/2020 2:50:00 PM
It is amazing how timing is everything. It is sad when timing is controlled.

The timing of the announcement of the vaccine statement releae after the election. Big Pharma and Giant Tech firms controlling the time release.
The timing of the Dow breaking through 30,000 mark was also reached after the election though it many runs at it.

I personally believe this was done to assis the Biden campaign. Sad commintary.

Jim Gill on 11/25/2020 3:00:26 PM

Add Your Comment

Submitted comments are subject to moderation before posting.

Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.