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Wealthion - Be Financially Resilient

November to Remember? | Jay Woods

Nov 22, 2023
Jay Woods, Chief Global Strategist for Freedom Capital Markets, discusses the trends in the markets, November's historical performance, support lines, trading strategies, and the significance of Nividia's stock performance.
53:24

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • November historically performs well in the market, trailing only behind April as the second best performing month of the year.
  • Identifying bear traps in the market can be challenging, but analyzing multiple timeframes and technical indicators can help traders spot potential reversals.

Deep dives

Key Points: S&P 500 Chart and Market Momentum

The S&P 500 chart has shown positive momentum with a rebound after a correction. It has broken above key moving averages and resistance levels, indicating a bullish trend. The market has experienced a failed breakdown and has been holding up above key support levels. Positive news, seasonal factors, and a pause in rate hikes by the Fed have contributed to the broadening of the market rally. The chart suggests potential further upside with a target of 4,607 by year-end.

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