Over the weekend, we sent out the weekly report to members that covered our views on actionable stocks emailed to members for this past week.
Major averages rose on mixed volume, a surprising occurrence as Friday was triple witching day when volumes are usually exaggerated. Incidentally, from here until the end of the year, the S&P 500 has always been up since 2003. Of course, keep in mind these are not "normal" times so even such good odds can be broken.
Oil and the Commodity Research Bureau (CRB) Index are closing in on multi-year lows putting pressure on European markets. Futures are currently trading lower. CME FedWatch puts the odds at 74% that the Fed will hike rates when it meets in December. Meanwhile, the European Central Bank is expected to ease further this week. So as has been characteristic for this year, crosscurrents prevail making for a trendless, rip-tide environment in the major averages. Still, profit opportunities have presented in stocks provided one stay disciplined by taking profits in context with the stock's chart and general market while keeping stops tight.
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