Nov 24, 2024: Mercury Retrograde: Trading Psychology and Market Swings

Here's a summary of the stock market performance for the week ending on November 22, 2024:

S&P 500: The index increased by 98.72 points, gaining 1.68%.
Dow Jones Industrial: The index rose by 851.52 points, increasing by 1.96%.
Nasdaq Composite: The index saw an increase of 323.53 points, gaining 1.73%.
Russell 2000: The index climbed by 102.83 points, rising by 4.46%.
Nifty 50: The index advanced by 374.55 points, gaining 1.59%.

Overall, the stock markets showed positive performance across all these indices, with the Russell 2000 recording the highest percentage increase.

Last Week Market Analysis

Range Bound Trading: The market remained within a range-bound session throughout the week. Momentum stocks like TSLA, SMCI, COIN, and MSTR, along with the crypto market, experienced significant volatility.
NVIDIA Earnings: NVIDIA's third-quarter earnings for fiscal year 2025, released on November 20, 2024, were impressive. The company reported earnings per share (EPS) of $0.81, surpassing analysts' expectations of $0.69.
NVIDIA Stock Reaction: Despite strong results, NVIDIA's stock price did not see a significant upward movement and traded down. This decline was likely due to the company's cautious guidance for the fourth quarter, citing supply challenges for its next-generation Blackwell GPU.

Saturn's Influence: After going retrograde on November 15, 2024, Saturn is giving a muted reaction, with bearish energy. Being a slow-moving planet, it may take another couple of weeks for a major market decline.
Mercury Retrograde: Mercury will go retrograde on Monday evening at 9:42 PM New York time. Its effects will be noticeable on both Tuesday and Wednesday next week.
- The market may bounce on Monday but is expected to decline on Tuesday and Wednesday.
- Thursday is a market holiday for the Thanksgiving break.
- During the Thanksgiving break, the market is likely to move up on Friday, a holiday-shortened day.

Bearish Energy from Saturn: Saturn is supplying bearish energies, but Jupiter is holding bullish energy, preventing a significant fall in cryptocurrencies.
Mercury's Impact: A substantial sell-off of over 15-20% is expected once Mercury goes retrograde on Monday late evening. However, this sell-off may not be the bottom to go long.