Stocks Stall On December 5, Ahead Of The Employment Report
It was a pretty dull day for stocks on December 5, as investors await the November employment report on Friday morning.

Stocks Stall On December 5, Ahead Of The Employment Report

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

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December 5, 2019

Stocks: ACAD, V, BA, DIS, NFLX

Macro: SPY


Reading The Markets Premium Content –

S&P 500 (SPY)

Stocks had a dull day, which is fine by me after the moves earlier this week. Now tomorrow, we get that big jobs report, which could very quickly determine just which way the market goes for the rest of the year. After it all, it was on November 1 that we got the good jobs data that sent the market ripping higher for the entire month. You probably forgot it was so long ago.

Anyway, the S&P 500 did manage to finish the day higher by about 15 bps, but it couldn’t get over 3,120. So we can see what tomorrow brings.

Acadia (ACAD)

Acadia had a great day rising by 14% to almost $51. It’s about time. Anyway, the chart is very choppy, making it extremely hard to read. That said, the stock likely has some consolidating to do in this region. Even a mild pullback to $48 seems possible. But based on the data presented last night on the Dementia-related psychosis trial, I don’t see how this doesn’t continue to climb long-term.

acad, acadia

Disney (DIS)

Disney is showing signs of a stock that may be heading to $142 over the short-term.

disney, dis

Netflix (NFLX)

Netflix tested support today at $300, and it held. Now shares appear to be forming a bullish reversal pattern, also known as a falling wedge. Perhaps it means shares reverse higher to $315.

netflix, nflx

Boeing (BA)

Boeing is looking pretty horrible here; look at the RSI grinding lower. I think we go back to $320.

boeing, ba

Visa (V)

Visa continues to look strong, and perhaps the stock is finally on a path that can send it to $189.

visa, v

Ok, back in the morning with your post job report write-up.


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