Noting the current stock index futures trading below fair value, with Home Depot’s earnings rising amid recovery efforts after recent storms. Cryptocurrencies like bitcoin and Ethereum saw gains following the U.S. election, and major stocks such as Coinbase (NASDAQ:COIN) and Bitfarms have also spiked. Meanwhile, reduced market fear, as indicated by a drop in the VIX, hints at potential support for higher stock prices.
We emphasize the role of big round numbers as psychological markers, with the S&P hovering around 6,000, acting as resistance. In commodities, oil and gasoline prices declined, while natural gas gained. Copper stocks are struggling, and precious metals dropped, affecting both U.S. and Canadian stock performances. We also review trending U.S. and TSX stocks, noting movements for Tesla (NASDAQ:TSLA), Nvidia (NASDAQ:NVDA), and Shopify (TSX:SHOP).
This content was originally posted on the Stock Market Timing YouTube Channel