Dec. 1 at 1:27 PM
$ZAPP Geopolitical tensions in Venezuela push oil higher while gold continues its ascent
Summary
- Previous session: Indices corrected after the Thanksgiving rally, with the S&P 500 and Nasdaq breaking key technical levels in a low-liquidity environment.
- Outlook: Disappointing macroeconomic data from China fuel caution, while the probability of a Fed rate cut in December remains high at 87%.
- Strategy: Negative gamma across all major indices suggests caution, with multi-day buying opportunities only at significantly lower levels.
It will be a week in which we await Powell’s appearance on December 10—and then perhaps the only thing left to wait for will be the Christmas rally, or Godot, who never came.