Charles Payne's Market Commentary

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

PREVIOUS COMMENTARY

3/31/2023 1:37 PM	Leaving the Station
3/31/2023 9:37 AM	BRACING FOR INFLATION
3/30/2023 1:54 PM	Losing Some Steam
3/30/2023 9:36 AM	A FUNNY WAY OF BEING AFRAID
3/29/2023 1:37 PM	Bottom Fishers
3/29/2023 9:41 AM	TOO CALM AND COMPLACENT?
3/28/2023 1:31 PM	No Fireworks
3/28/2023 9:47 AM	TIME MACHINE RALLY
3/27/2023 1:34 PM	Holding Pattern
3/27/2023 9:59 AM	SUDDENLY, BULLISH IS WHERE IT’S AT
3/24/2023 1:25 PM	Magical
3/24/2023 10:14 AM	YELLEN’S TWO-STEP TRIPS UP THE MARKET
3/23/2023 1:14 PM	Embarrassing Snafu
3/23/2023 9:37 AM	GOVERNMENT OFFICIALS PROTESTING TOO MUCH
3/22/2023 1:23 PM	All Quiet
3/22/2023 9:42 AM	THE MOMENT OF TRUTH #1,309
3/21/2023 1:12 PM	Lots of Questions
3/21/2023 9:49 AM	WHAT’S INSIDE POWELL’S CRYSTAL BALL?
3/20/2023 1:58 PM	All Over the Place
3/20/2023 9:36 AM	FED COUNTDOWN BEGINS
3/17/2023 1:45 PM	Banks Remain Vulnerable
3/17/2023 9:54 AM	FED VS THE FED (IT’S COMPLICATED)
3/16/2023 1:27 PM	Another Crazy Day
3/16/2023 9:53 AM	THRILL RIDE
3/15/2023 1:43 PM	Economic Data Overshadowed
More commentary archives