Will the Market Make a New High Today?

November 29, 2023
Author: Peter Stolcers, Founder of OneOption

The SPY is gapping up on the open and it is within striking distance of the high of the year. Here's what to watch for.

PRE-OPEN MARKET COMMENTS WEDNESDAY – The market has recovered all of the losses from August through October in a month. That is a testament to how strong the buying pressure is. Inflation readings are subsiding and there is a zero percent likelihood of a Fed rate hike priced into the December and January Fed Funds futures contracts. These are bullish events technically and fundamentally.

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