Stocks may struggle until Thanksgiving as bond yields bounce. And one sector in particular is a turkey.

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Critical information for the U.S. trading day

Early Friday futures suggest stocks will steady after an eight-day winning streak hit the buffers in the previous session.

This phenomena is not uncommon, says Vanda, with retail investors often wary at the beginning of rallies that follow a period of widespread market weakness. Technical factors during Thursday’s dive highlighted the fragility of the recent rally, according to Newton. Engulfing candlestick patterns may indicate a market reversal. The second candlestick will be much larger than the first, so that it completely covers or ‘engulfs’ the length of the previous bar.

November, to date, marks the fourth consecutive month of Small-cap weakness relative to Large-cap, notes Newton, part of a larger intermediate-term downtrend which has been going on for nearly a decade. For more market updates plus actionable trade ideas for stocks, options and crypto, subscribe to MarketDiem by Investor’s Business Daily.

 

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