Home » New Musings » Market Musings Wed 25 Nov 20: Pre Market: DOW Makes ATH, Oil Advances to $48, Gold at 1800: BTC Clears 19,000. Sentiment at Extreme Greed

Market Musings Wed 25 Nov 20: Pre Market: DOW Makes ATH, Oil Advances to $48, Gold at 1800: BTC Clears 19,000. Sentiment at Extreme Greed

Pre Market 07:15 DOW Makes ATH, Oil Advances to $48, Gold at 1800: BTC Clears 19,000. Sentiment at Extreme Greed

  • US markets making all time highs on the eve of their Thanksgiving holiday weekend: today is packed with US data including GDP, initial jobless , a slew of consumer data and inflation expectations. Given the giddy height, a sell-off seems probable if some of those data disappoint
  • FTSE 100 futures show an open +28 points  after a big day in green advancing 1.6% to 6430 US closed in the green as DOW make new all-time highs breaking 30,000 while the S&P closed at a record high with Asia following
  • Mid 250 close up 1.24% at a new  post CV19 crash high  while  AIM All Share sold off -0.3%
  • All indices are stretched and overdue a consolidation if not a pullback
  • Oil has cleared $48 and has made a new post CV19 crash high  but is encountering resistance and looks set to pause
  • VIX drops to 22 and F&G index advances to 88: Extreme Greed score.
  • As highlighted yesterday, gold did sell off to the $1800 level and is trying to find direction: a dip below 1800 to stop search seems likely with a sharp reversal as a buying signal to get long
  • BTC, the touted inflation hedge, broke $19000 and approached all-time highs before retreating overnight : the cryptocurrency has doubled in value in just two months, looks stretched on price and has a diverging RSI suggesting a pullback is overdue with a check to its 8EMA at $18100 and potentially a 21 EMA check at $16400 if any sell-off gathers force.
  • 26 companies reported by 07:35 including 7 of the 250 (see below)

26 UK Companies Reported by 07:35

 

 

Companies on the Move Today

[stock_market_widget type="comparison" template="basic" color="teal" chart_range="1d" chart_interval="5m" assets="CLX.L,GOCO.L,BONH.L,EDR.L,PDL.L,PXS.L" fields="name,change_abs,change_pct,volume,market_cap,chart,open,high,low,last_update" api="yf" style=" width: 1200px; margin-left: auto; margin-right: auto; background-color: white;"]

Price quotes delayed by 15 minutes or more, see update timestamp for details. Refresh page to force update

Follow donncha:
Financial trader, technical analyst, author and blogger. Trading full time for 13 years.
Latest posts from
5 1 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments