Uptrend, Portfolio Performance and New Buys

November 24, 2024 - Update

Market Recap: A Positive Week for the Nasdaq

The Nasdaq had a strong week, closing at +1.73% on above-average volume. All key moving averages are trending upward, signaling that the uptrend remains intact.

Here’s a quick summary of the market environment:

• US stocks remain well-positioned, supported by a favorable economic backdrop.

• The market is pricing in expectations of lower taxes and deregulation under the new administration.

• Access to credit remains robust in the US.

• Q4 GDP nowcast currently stands at 1.9%.

• The Fed is expected to cut rates again in December, maintaining a market-friendly monetary policy.

• Valuations in some sectors may cap upside potential for large-cap stocks.

• Market breadth is improving across the board, with broader participation.

• Corrections should be viewed as buying opportunities.

Leading sectors: Financials, Industrials, Information …