"Baby, It's Cold Outside!"

Hi There! November is my month of transformation and introspection. I take a moment to express gratitude for the past, acknowledging its role in shaping my present. This month is the time I set fresh aspirations, foster dreams, and welcome the unknown with open arms. November, for me, marks the beginning of planning for the upcoming year, a time of renewal and anticipation. 

November's Trader's Notes:

• November Stock Market Performance: Average returns range from 0.9% to 2.2% on major stock market indices

• Crypto Market Outlook: Look for a bullish trend in crypto markets if the total market cap exceeds $1.18 trillion.

• Crypto Market Behavior in November: First and last weeks of November tend to show a bullish sentiment in the crypto market.

Alright, let’s dig in!

Last week investors witnessed a flurry of events in the markets, with extreme fear weighing on risky assets. However, a breath of relief swept through the stock market as it closed out its most stellar week of the year, driven by a "Goldilocks" October jobs report. This data suggested that the Federal Reserve might halt its interest rate hikes, further bolstering optimism. Equities continued their remarkable rally, with the S&P 500 closing green for another week. The "no news is good news" sentiment prevailed, with hopes that a soft jobs report will maintain interest rates. Investors now eagerly await the mid-November reading on inflation, which will offer more insights into future Fed's Interest Rate decisions. 

Here are other key highlights from last week:

• Oil prices settled more than 2% lower last week

• Institutions are showing sustained interest in crypto investment products

• October's NFT market contracted over 21%

• Steve Aoki and Stepn held an NFT raffle

• Polygon projects helped Hong Kong become a Web3 Hub

This week has been great time to be in the markets so far:

• S&P 500 is currently on a winning streak, its longest since November 2021.

• U.S. credit card debt surged to a new record high of $1.08 trillion in the third quarter.

• Home prices have only declined by approximately 6% from their all-time peak.

• Fed Chair Jerome Powell warned that the Fed wasn't confident yet they had reached a sufficiently restrictive level on monetary policy to bring inflation down to target. He hinted that further rate hikes cannot be ruled out.

• Several Fed members, including Cook, Kashkari, Goolsbee, Barr, Waller, Logan, Williams, Jefferson, and Bostic, spoke throughout the week.

• Keep an eye out for the Michigan Consumer Sentiment Report later today.

This has been another busy week for Q3 earnings.  The most notable Earnings releases are highlighted in black below.

This Week’s High-Impact Global Economic Data Highlights:

• Euro Area and UK Purchasing Managers Index (PMI) Reports

• Republic Bank of Australia (RBA) Interest Rate Decision

• German Industrial Production

• China Consumer Price Index (CPI)

• UK Gross Domestic Product (GDP)

This week's anticipated bias (not financial or investment advice):

• Monday (11/06/23) - Bullish first Monday in November

• Tuesday (11/07/23) - Bullish

• Wednesday (11/08/23) - Trade after the News

• Thursday (11/09/23) - Expect profit taking

• Friday (11/10/23) - Choppy markets - sit sideline

Trading Tip: Retirement shares to watch in November - MMM!

Week 10/29/23 - 11/03/23 Recap

Special Tools and Strategies

CoinMarketCap is a powerful website in the crypto world that provides valuable information. It ranks cryptocurrencies by their market capitalization, displays charts, and offers other important data. This information is key for understanding the cryptocurrency market.

What to Look For:

1. Global Crypto Market Cap: Keep an eye on the total value of all cryptocurrencies combined. It helps you track the money flowing in and out of the market.

2. Bitcoin's Dominance: Pay attention to how much of the cryptocurrency market is dominated by Bitcoin. It's a significant indicator.

3. Moving Cryptocurrencies: Check which cryptocurrencies are currently gaining (or starting to lose value if you looking to take profits).

4. Top Gainers: Look for cryptocurrencies with positive 24-hour and 7-day performance, indicated by green numbers.

5. Circulating Supply: Focus on cryptocurrencies with a circulating supply of under 10 million.

6. Trading Volume: Pay attention to cryptocurrencies with a trading volume exceeding 2 million. This indicates active trading and market interest.

   

   Source: CoinMarketCap Website

Disclaimer: This newsletter is strictly educational. The information this report provides does not constitute investment, financial, trading, or any other advice. You should not treat any of the report’s content as such. Please be careful and do your research.