1. U.S. Data Dump Coming: Retail + Housing Heat Check
Not much economic data today, but tomorrow we get U.S. retail sales— delayed due to the U.S. government shutdown — plus housing data: Case-Shiller S&P Home Prices, HPI, and pending home sales.
The U.S. housing market is cooling, and tomorrow’s numbers could confirm how fast.
I talked about this in late October here: Have Investors Overshot on the U.S. Housing Market?
Also, don’t forget: its U.S. Thanksgiving week. Expect low volume.
2. Friday Rally: Relief or Just a Dead Cat Bounce?
Yes, stocks rallied on Friday…
But was it just a dead cat bounce?
The S&P 500 closed below its 50-day moving average for the 5th straight day.
Price action on November 20th matters a lot. Watch today’s highs and lows:
- Break above → buyers come in.
- Break below → more downside
- Stay in between → choppy, directionless market
3. Nvidia Feels Like It’s Holding Up the Whole Market
More color on market concentration:
Nvidia CEO Jensen Huang told employees last week:
“If we delivered a bad quarter, it proves there’s an AI bubble. If we delivered a great quarter, we’re fueling the AI bubble… If we were off by just a hair… the whole world would’ve fallen apart.”
Plain English: NVDA knows it’s carrying the weight of the market.
The big question: this AI bubble noise — is it real or just a “temporary air pocket”? (If you got that reference without Google or AI… tap yourself on the back 😊)
4. Gold Fights $4,000, Silver Eyes $52, Oil Risks a Breakdown
Gold is working hard to defend $4,000.
For silver, $49.50 is solid support. A move above $52 opens the door to $60+. I know — sounds wild — but yes, possible.
Oil: watch $56 closely. If it breaks, don’t be shocked to see oil below $50.
Also seeing weakness in uranium and rare earths.
5. Bitcoin Breaking Trend? Plus Dollar Strength & India-Canada Talks
Bitcoin is finding support for now — decent region — but if it breaks $77–75K, be careful.
There’s serious liquidation risk.
We’re also seeing a break in a trend that began in 2023. $69–70K is major support.
Very little noise about this: The U.S. Dollar Index (DXY) is above 100, and above both its 50-day and 200-day moving averages.
Other notes:
- Canada and India are working on trade deals
- Eli Lilly hits $1 trillion market cap — fat loss is a serious business