Wall Street Strategies
Hello! Sign in or Register

Afternoon Note

Intriguing Session

By Charles Payne, CEO & Principal Analyst
11/28/2022 1:18 PM

It's been an intriguing session in the sense that no one wanted to get in the way of early selling, but I'm seeing some nibbling.

The first tell was Wynn Resorts, Limited (WYNN) moving higher on the renewal of its casino license in Macau and fetching at least one upgrade this morning. Still, I thought the stock would be under some pressure.

Crude oil is also holding at a very important support point.

The market is also holding despite the Fed talking heads laying it on thick once again.

-'Fed will have to pursue rate hikes into 2023' Bullard

-'I don't believe the Fed is close to a pause on tightening.' Mester

I'm watching the NASDAQ Composite, which acts like it wants to move higher.  The index is a million miles below any major tests of resistance, so there could be lots of traders kicking the tires.


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.