Superb post-feast action in Friday’s abbreviated holiday weekend session; with just slight fade for S&P late in the day. A number of small speculative and tech stocks managed to hold together; while a couple were really impressive.I don’t know if part of this was ‘month-end’ activity; and we’ll see because if no major incidents over the weekend, we should see upside attempted during the early part of the new week (such as up; pullback for intraweek traders, then a bit higher with questionable sustainability in a few areas … also news sensitive).
Market X-ray: solid half-day Friday; small stocks behaving well. Enjoy a holiday week and think in terms of ‘stragtegic deescalation’ for the global situation. It might be ‘why’ the Navy’s forming a ‘flotilla’ of ships around the S. China Sea.Along the same lines: Russia’s Putin reiterated fairly warm musings about or in defense of Trump. It could be that the Russian leader is leaving maximum room available to repair relations with Washington, which have hit a low point obviously throughout their war on Ukraine. Moscow made recent statements suggesting it doesn’t see a truce likely at this point; however, it said Russia remains open to listen to what the incoming Trump administration has to say. I wouldn’t trust Putin at all; but probably Trump will push for peace ‘or’ threaten Putin with supporting liberation movements in Belarus if he doesn’t negotiate.
Bottom line: continued upside at the start of the new week is likely; with the new-generation and new-spec selections continuing to act well, allowing for a bit of retrenching in early December; prior to continuing overall up-trends.
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