1. ADP Rings the Alarm — Or Is It Another Head Fake?
ADP job numbers came in much lower than expected.
Forecast was a +7,000 job gain in November… actual? A 32,000 job loss.
Yes, ADP numbers are usually wrong and extremely volatile, but if they’re accurate this time and match the official payrolls, be very careful.
2. Volume Returns, But S&P 500 Can’t Push Higher
We finally saw a somewhat decent amount of volume, yet the S&P 500 is struggling to move higher.
Everyone is basically waiting for the Fed decision since we have no major data until after the announcement.
Trend still points up, but the choppiness shows indecision.
3. Gold Holds $2,400 — Silver Still Looking for Friends
Gold built a decent base around $2,400. Let’s see if it holds.
Silver needs buyers — palladium, platinum, and copper may be stealing some of the spotlight.
Oil remains stuck in a downtrend.
Uranium stocks (using URA as the example) are down 25% from their October highs.
4. Bitcoin Pops — But Don’t Ignore the Bigger Trend
Bitcoin is seeing a solid move to the upside after finding support.
But zoom out: A longer-term trend has been broken, and price is trading below its 50-week moving average — first time since 2023.
Last time BTC broke below the 50-week, it retested and then moved lower.
And just to be clear: the U.S. government isn’t secretly building a Bitcoin reserve, right? Is that still a thing? 😊
5. Private Equity, Rating Agencies, and Bond Markets—Lots of Smoke
Private equity + rating agencies headlines are getting… interesting.
The Canadian dollar is trying to break out of its downtrend vs. the U.S. dollar.
Japanese bond yields are taking a small breather but remain in vertical mode.
U.S. 10-year yields are stuck around 4%, likely waiting on the Fed decision.