Big View Slaps Bulls with Warnings

November 28, 2023

Mish's Daily

By Mish Schneider


Monday after the close, some warnings signs from our risk gauges popped up.

These are especially interesting given the number of bulls and the amount of money coming into the market.

Technically, we still have the resistance that has not cleared in small caps, retail, or transportation.

And this with a declining dollar, bullish gold, plus renewed buying in agricultural commodities.

Could these warnings reverse?

Yes, but this is the most risk off we have seen as far as the gauges since April.
-

Risk Gauges: WARNINGS:

SPY (S&P 500) now on par with TLT (long bonds)-you don’t want TLT to outperform-risk off.

HYG (junk bonds) underperforming TLT risk off.

SPY is now underperforming GLD (gold)-risk off.

WOOD underperforming GLD-risk off.

Risk off means just that-so -pay attention-these gauges are incredible.

On another note, check out Your Daily Five with 6 picks and setups I did for StockchartsTV.com today, which should be on YouTube later.

 

If you find it difficult to execute the MarketGauge strategies or would like to explore how we can do it for you, please email Ben Scheibe at [email protected], our Head of Institutional Sales. Cell 612-518-2482

For more detailed trading information about our blended models, tools, and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.
-


Traders World Fintech Awards
-


Get your copy of
Plant Your Money Tree: A Guide to Growing Your Wealth

Grow Your Wealth Today and Plant Your Money Tree!

"I grew my money tree and so can you!"- Mish Schneider

-
Mish in the Media -
All clips here

Business First AM-Mish covers Palo Alto and how the quants picked up this winner 11-27-23

Real Vision Daily Briefing Mish and Maggie cover Inflation, Tech, Commodities and Picks 11-20-23

Yahoo Finance Mish and Rachelle talk trading range, fundamentals and how to think about commodities right now 11-20-23

BNN Bloomberg Open Mish covers the emotional state of oil and gold plus why small caps are key right now..plus a couple of picks! 11-17-23

CNBC Asia Partial Clip on Oil, OJ, Beans and how to trade volatile commodities 11-16-23

Making Money With Charles Payne Fox-Mish discusses small caps and how they could still run, the Fed and gives 3 picks 11-16-23

Business First AM-Tencent Music TME 10-27-23

 

Coming Up:

Crypto Town Hall 11-29-23

Schwab Network 11-29-23

Live Coaching 11-30-23

December 3-December 13 Money Show Webinar-at-Sea

Weekly: Business First AM, CMC Markets

 

ETF Summary

S&P 500 (SPY) 450 support 465 resistance

Russell 2000 (IWM) 181 resistance 174 support

Dow (DIA) 360 resistance 346 support

Nasdaq (QQQ) 388 now pivotal support

Regional banks (KRE) 45 big resistance

Semiconductors (SMH) 160-161 pivotal support

Transportation (IYT) 235 support

Biotechnology (IBB) 120 pivotal

Retail (XRT) 65 resistance and 60 pivotal support

Improve Your Returns With 'Mish's Daily'

Michele 'Mish' Schneider

Every day you'll be prepared to trade with:

  • Unique insight into the health and future trends in markets
  • Key trading levels for major ETFs
  • The 'Modern Family' advantage
  • Actionable trading ideas in stocks and ETFs across all asset classes
Subscribe Now!