Week of November 25

Turkey week / Back to 6000

Recap of last week

We were on the right side of yet another pivotal swing in the market.

Everyone on their mom got bearish last Friday after Powell backpedaled on rate cuts and NDX fell around 2.5%. When just about everyone gave up on the YE rally we remained steadfast and bullish. What happened next? Every single day of the week was green. Our track record for being bullish at key swing lows this year is pretty stellar. April 19, August 5, September 11, Oct 31st, and we can add last week to that pile too.

Post NVDA earnings, quite a disappointing guide, but market remains buoyant. Turkey week upcoming, just as we approach the 6000 handle again from under which was rejected last time. There is also a new Treasury Secretary for the market to digest. How will this affect assets? Bessent likely has a major effect on many major assets, not just equities and I will share my thoughts below. In the meantime how did my Trump basket of trades work out? This doesn’t include our massive size of SPX calls loaded before the election. I pounded the table in October about not letting this once in every 4 years opportunity go to waste and we definitely did not. I gave out 9 possible trades and every single one of them was profitable. Every single one.

Next move for markets