Wall Street Strategies
Hello! Sign in or Register


Afternoon Note

Oil Surges

By Charles Payne, CEO & Principal Analyst
11/23/2021 1:47 PM

Growth continues lower after the outside session for the NASDAQ.  The most intriguing aspect of the session is the fact crude oil is surging from the news President Biden is going to fix crude oil and gasoline prices. 

S&P 500 Index                

 

-0.48%

Communication Services XLC

 

-0.58%

Consumer Discretionary XLY

 

-1.28%

Consumer Staples XLP

+0.43%

 

Energy XLE

+2.82%

 

Financials XLF

+0.95%

 

Health Care XLV

 

-0.46%

Industrials XLI

 

-0.34%

Materials XLB

 

-0.25%

Real Estate XLRE

+0.85%

 

Technology XLK

 

-0.35%

Utilities XLU

+0.40%

 

The NASDAQ is under pressure but it is so far above its 50 and 200 day moving averages, it’s hard to get nervous even as individual names are giving up huge chunks at a time.  For now there is a series of pockets of support that could slow the pullback.

It’s hard seeing this market rebounding into the close.  Let’s hold off. 

 

WWW.WSTREET.COM

 

Disclaimer: All investment entails inherent risk.  Wall Street Strategies' research seeks to assist investors in determining when to buy and when to sell to attempt to maximize profits or minimize losses. All final investment decisions are yours and as a result you could make or lose money.  Wall Street Strategies, its employees and/or its affiliates and family members may from time to time take positions in the open market or otherwise with respect to the securities discussed. Wall Street Strategies, its employees and/or affiliates do not have stock ownership equal to or greater than 1% of the outstanding stock of the covered company nor does any employee of Wall Street Strategies sit on the Board of Directors of any covered company.  Wall Street Strategies is not a broker/dealer, and the firm does not underwrite securities, manage assets, or perform investment banking activities.  The statements made herein include information obtained from sources believed to be reliable, but no independent verification has been made and we do not guarantee its accuracy or completeness.  The statements made herein contain general information and do not constitute an offer to buy or sell any security


 


 

Log In To Add Your Comment


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