For
the week,
the main stock market
indices were up, with the S&P500 gaining 1% and
the NASDAQ
100 3.3% in the green. The small cap index (Russel 2000) lost 1.2% and is around resistance.

Precious
metals are on the lower range of the current trading channel. Gold fell 0.7%
and and silver gained 1.1%. Nothing new to say about precious metals except that current levels must be defended, otherwise we will turn bearish.

WTI fell 1.5% and continues hammering the 67-68$ level, a short term support. If this level breaks, WTI can go to 61-62$ over the next weeks or months.

Bitcoin was up 4%, momentarily passing the 100k$ level, and is currently around 99k. We are now in uncharted territory. Bitcoin can pullback at any moment or consolidate for a while, even if buyers keep showing up, likely because a lot of BTC holders are taking  profits around current levels (supply and demand are balanced).

The
relative
strength of the US dollar (DXY) was little changed this week (still around 106). The
EUR/USD is around 1.06$, the GBP/USD is at 1.27$, and the USD/JPY is at
150.0 JPY.

US M2 money supply at the date of 28th October 2024 was up by 0.42%.

The
national financial
conditions index (NFCI) for the week of 25th November 2024 loosened by 3.4% and doesn’t translate signs of financial stress in
the markets.

US

bond yields fell slightly this week, and now sit at 4.102% for the
2-year
and 4.137% for the 10-year.

The
VIX fell to 12.7 and can continue falling until ~12. This means the markets are not
very fearful and investors/speculators are not searching for put
options.

Comment Section

December continues looking positive and relentless in the stock markets. Nobody is fearful and any meaningful correction will only likely come next year. As usual, volumes are going to be low in the last weeks of the month. However, it is important
to keep looking for fundamental or market psychology changes.

Take care, and good luck.