U.S. Equity Markets finished Thursday lower led by the 0.31% fall in the S&P 500 after a volatile session. Markets finished lower as hawkish “Fedspeak” dominated headlines Thursday. St. Louis Federal Reserve President James Bullard said interest rates “will need to be increased further” to become “sufficiently restrictive” in taming inflation. However, the runway for further rate hikes appears to be facing more resistance as additional weak economic data points continue to show a deteriorating economic climate – October Housing Starts were down from the month prior, and the Philadelphia Fed Manufacturing Index had a much weaker reading than expected. Also, Cisco Systems (CSCO) became the latest tech giant to announce layoffs this Quarter. Within the S&P 500 Index, eight of the 11 sectors finished lower. European Markets closed lower. Markets ended lower after struggling to maintain gains earlier in the day. Falling rate expectations out of the U.S. continue to fluctuate investor sentiment in Europe. Meanwhile, European Central Bank and Bank of England Officials continue to assert aggressive rate-hike intentions as the region battles record inflation. U.K. fiscal policy was the primary catalyst, with Chancellor Jeremy Hunt affirming expectations of tax hikes and limited government spending as the office attempts to calm markets. Elsewhere, the European Union is expected to announce a gas price cap following its November 24 meeting. And the International Monetary Fund chief warned that the “single most important negative factor” for regional and global economic outlook is the ongoing war in Ukraine. In Asia, Markets ended largely lower after semiconductor stocks dragged on IT. But a reiteration of China’s commitment to “more decisive” COVID-19 prevention gave Chinese stocks a lift late on. China’s bond markets continue to be under pressure as the 10-year yield hit its highest level since December 2021. Bloomberg reported that regulators have requested banks provide proof of meeting short-term debt obligations. Central banks in Indonesia and the Philippines increased their Base Rates to combat inflation. Finally, Australia showed a surprise drop in the Unemployment Rate to a near-50-year low. Elsewhere, Oil closed a huge 4.29% lower while Gold fell 0.70% after a volatile session.

To mark my 2650th issue of TraderNoble Daily Commentary I am offering a special 2-Year Rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day to demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on bryan@tradernoble.com for details

For anyone following my Platinum Service it has made 467 points yesterday and is now ahead by 3426 points for November, after finishing October with a record gain of 9619 points, making 6660 points in September, after closing August with a gain of 2228 points, having made 2660 points in July, following a gain of 3371 points in June. The Service made 3651 points in May, after making 762 points in April, following a gain of 5883 points in March. The Platinum Service made an impressive 5324 points in February, after ending January with a gain of 3878 points, more than making up for December’s 932 points loss. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points. I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification 



The S&P 500 closed 0.31% lower at a price of 3946.

The Dow Jones Industrial Average closed 7 points lower for a 0.02% loss at a price of 33,546.

The NASDAQ 100 closed 0.19% lower at a price of 11,676.

The Stoxx Europe 600 Index closed 0.46% lower.

Yesterday, the MSCI Asia Pacific Index rose 0.2%.

Yesterday, the Nikkei closed 0.35% lower at a price of 27,930.


The Bloomberg Dollar Spot Index closed 0.5% higher.

The Euro closed 0.3% lower at $1.0361.

The British Pound closed 0.5% lower at 1.1855.

The Japanese Yen fell 0.5% closing at $140.16.


Germany’s 10-year yield closed 4 basis points higher at 2.02%.

Britain’s 10-year yield closed 5 basis points higher at 3.20%.

U.S.10 Year Treasury closed 7 basis points higher at 3.77%.


West Texas Intermediate crude closed 4.29% lower at $81.45 a barrel.

Gold closed 0.70% lower at $1760.10 an ounce.

This morning on the Economic Front we have U.K. Retail Sales and GDP at 7.00 am. This is followed by a speech from ECB President Lagarde at 8.30 am followed by a speech from Bundesbank President Nagel at 1.00 pm. Finally, we have U.S. Existing Home Sales at 3.00 pm.

Cash S&P 500

It is amazing that after a 15% rally in the S&P off the October lows, the amount of talk that the U.S. will not experience a recession and that we will have a soft landing is growing. I do not know what these analysts are on given the amount of layoffs announced over the past few weeks just when the Housing Market in America is falling off a cliff. I have no doubt that we will see a recession in 2023 and that in my opinion the Fed are close to stopping their rate hikes. However, it is difficult to be short the market given the seasonality ahead of Thanksgiving next week, which is why it makes sense to be a buyer of dips. Yesterday’s plan worked well as the market traded the whole of my buy range for a 3915 average long position before rallying back and close most of Wednesday’s ‘’Open Gap’’. As so many of my calls hit around the same time, I covered this long S&P position at my revised 3927 T/P level and I am still flat. The S&P has strong support at the 150 Weekly Moving Average (3862) where I will be an aggressive buyer on any dip to this support with no stop or T/P level if triggered. Ahead of this support, the S&P will attract buying from 3898/3918 where I will be a strong buyer with the same 3879 ‘’ Closing Stop’’. Ahead of the weekend and the Thanksgiving Holiday next week, I do not want to be short the S&P at this time.


No Change. The Euro fell shy of yesterday’s sell range and I am still flat. Today, I will continue to be a strong seller from 1.0430/1.0500 with the same 1.0565 ‘’Closing Stop’’.

March Dollar Index

Having been long the Dollar all-week at 106.70, the market finally rallied before lunch, enabling me to cover this position at my revised 106.95 T/P level and I am now flat. The Dollar has support from 105.40/106.10 where I will be a strong buyer with a 104.85 ‘’Closing Stop’’.

Cash DAX

No Change. I have no interest in chasing the DAX higher given how overbought the market is as shown by the 14-Day RSI approaching 80. Therefore, I will leave my 13920/14020 buy level unchanged with a higher 13855 ‘’Closing Stop’’.


No Change. The FTSE has support from 7190/7250 where I will be a strong buyer  with a 7135 ‘’Closing Stop’’. I will now raise my sell level to 7415/7495 with a higher 7565 ‘’Closing Stop’’.

Dow Rolling Contract

My Dow plan worked well yesterday with the market trading lower to my initial 33150 buy level before rallying over 450 points. This move higher enabled me to cover this position at my 33300 revised T/P level and I am now flat. With seasonality a key landmark between now and January it makes sense to be a buyer of dips. The Dow has support from 33000/33250 where I will again be a buyer with a higher 32895 ‘’Closing Stop’’. I still do not want to be short the Dow at this time.

Cash NASDAQ 100

The NDX led yesterday morning’s decline before staging a nice afternoon rally after the Cash Markets opened. I bought the NDX at 11580 before we rallied to my 11710 T/P level and I am now flat. Today, I will again be a strong buyer from 11430/11580 with the same tight 11345 ‘’Closing Stop’’.

December BUND

After the Bund hit my initial 139.80 buy level, we saw a small rally to my revised 140.12 T/P level and I am now flat. Today, my buy level will be from 138.40/139.20 with a lower 137.65 ‘’Closing Stop’’.

Gold Rolling Contract

I am still flat. Gold has traded in a narrow range over the past few days. I have no interest in chasing the market higher, leaving 1717/1732 buy level unchanged with the same 1699 wider ‘’Closing Stop’’.

Silver Rolling Contract

The selloff in Gold yesterday, saw Silver hit my 21.10 buy level. I am still long. I will add to this position at 20.40 with no stop. I will now lower my T/P level to 21.75. If any of the above levels are hit I will be back with a new update for my Platinum Members.