Welcome champions, to the heart of our 6-week journey

“The Mindset Money Matters 6 Week Challenge!”

Last week, we created a detailed plan and picked our accountability partner. If you don’t have one, let us know and we’ll be your partner. 🙋‍♂️

Join the conversation and share yours at the bottom of this post — it may help motivate somebody else reading.

The next couple of weeks will be challenging and a lot of it will be on you now that we’ve given you the blueprint.

So remember when frustration clouds your vision, that’s part of the journey. You're breaking free from the chains of old habits, and that's not easy.

Fuel your momentum with positive energy.

Connect with us and fellow challengers — share your experiences below under “Join the conversation”. Let’s draw inspiration from each other.

Here is a quick recap of Markets for the Week of December 1st, 2023 and what we are watching this week 👨‍🏫

November was the best month for global equities in 3 years.

The S&P 500 was up +9% and had one of its best months in the last 50 years. The Dow Jones Index finished the week with its longest winning streak since 2021.

Fear of missing out on further gains in this seasonally strong period for the market contributed to the positive action this week, along with the drop in treasury rates and rethinking rate cuts in the first half of 2024.

Investors received a slate of economic data this week that continue to look consistent with a soft landing scenario for the economy, AKA possibly avoiding a major recession.🛬

Did Christmas come early for investors or are we just getting started? 🎄

Here are the key points from last week:

• Upward revision to Q3 real GDP to 5.2% from 4.9%- the U.S. economy was booming in the third quarter despite higher interest rates, aided by a strong labor market and disinflation that fueled healthy consumer spending activity.

• Treasury yields - 2-yr note yield plunged 39 basis points this week to 4.55%. The 10-yr note yield declined -25 basis points to 4.21%. Great news for risk-on assets like stocks, options, and crypto.

• Disinflation in the PCE Price Indexes in October - which is good, however the 3.5% in core PCE (which is what the Fed focuses on) remains well above the 2.0% target. It's moving in the right direction fortunately, but that isn't the type of reading that will move the Fed to think about cutting rates soon.

• Fed Speakers - Richmond Fed President Barkin (2024 FOMC voter), Fed Governor Bowman (FOMC voter), and Fed Chair Powell all made comments this week indicating that they believe it is premature to talk rate cuts.

$SPY: S&P 500 remains in a steep uptrending channel and after consolidating in a tight range last week popped on Friday to tag our 458 price target (see here).

The S&P 500 had a +9% rally in November, which is very strong, but does it have enough energy to get through 460-465 resistance and all time highs from January 2022? That’s what we will find out in the next 2-3 weeks.

Did Christmas just come early?

$QQQ: also had a strong November +10.8% but mostly consolidated last week after failing to get over that 392 resistance we mentioned here.

Its all time highs of 395-400 is less than 3% away….will it have the energy to break it?

I do a weekly Markets analysis every Monday during Office Hours @ 8:30pm EST via Zoom for the Ceni Capital Community. I will discuss if the Christmas Rally came early this year, if we should be more cautious the rest of December, and the stocks I’m watching for swing trades this week.

Here are how some of our callouts did last week:

Interested in getting our swing trade alerts ahead of time?

Comment at the bottom of this post or just reply “Swing trade alerts” for more information.

$COIN: Coinbase continued it’s tear trading over our $130 target mentioned here and up +80% since our callout on October 16th. It’s starting to look parabolic but if Bitcoin breaks over $40,000, Coin trades to $150.

Please do not chase it up here if you are not already in it. 🙄

There will be more opportunities — just make sure you catch them by getting our swing trades LIVE the moment we enter. Join the conversation below for how.

🚘 $UBER: traded through our next price target (see here) of $60 in after-hours Friday after being added to the S&P 500. Our swing is now up 100% from our callout back on April 28th, 2023.

🥇$NUGT: With Gold breaking out to all time highs our NUGT swing trade tags the first price target of $36 for +24% since our callout. Usually Gold going up isn’t good for risk on assets like stocks, but if it continues our NUGT swing is just getting started.

Here are some charts we are watching this week:

$AMZN: As most of the Magnificent 7 and Tech sold off last week, Amazon showed relative strength consolidating. It is up +24% since its October lows but if it can get through that $148-$150 resistance it has some room to $165-$170. Not overnight of course, but still a nice Christmas gift.

$IWM: Russell 2000 small caps are finally playing catch up as this sector will benefit the most once the Fed begins to drop interest rates and where the real money will be made!

We have been talking about small caps during Office Hours since the beginning of November and after 2 weeks of consolidation; it gave us its big breakout on Friday trading to our first price target of $185.

As money has shifted from Tech to Growth, IWM should see some continuation heading into the end of the year.

$ALT: VERY SPECULATIVE HIGH RISK trade so only invest what you don’t mind losing.

Altimmune is a low float junkie that will be looking to pump their stock in order to finance their day to day operations. DO NOT fall in love with the stock nor think they will actually do what they say….please…because I will say I told you so.

That being said, I am not pumping the stock just simply know the setup.

Late Thursday, Altimmune said its experimental obesity drug helped reduce weight by 15.6% on average in a mid-stage study that included 391 people enrolled. Their drug will not cure obesity nor probably get anywhere to be honest. BUT with obesity being a huge problem, they will make this sound like the next Eli Lilly (a real pharmaceutical company) that has an active working obesity drug called Zepbound or Novo’s Ozempic.

So we are here strictly to trade momentum- get our money and go.

Learn to make your money work harder for you, rather than you chasing it. 

If you are interested in getting our swing trade alerts ahead of time, comment below “I am interested ” for more information.

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See you next week! 👋