Bad Retail Leads Stocks Lower

Retailers and clothing suppliers fell following the Black Friday holiday shopping weekend. Early signs showed brick-and-mortar stores faced difficulties. Walmart and Nike posted among the heaviest losses in the Dow, both down more than 1.5%.

This has been a ridiculously slow market.  The S&P has moved less than 0.2% over the last week and just +0.1% for November.  It doesn’t get any more flat than that.

The big news in the coming week is the meeting of the ECB on Thursday. If they are dovish, and look to extend their QE, than that could be a catalyst for higher stocks prices. If they are dovish, then look for the dollar to rise, crude to fall and European stocks to rally.  The euro will also be pressured.

Nothing triggered from last night’s additions, but BZQ gapped up through our trigger, so wait for that to get back into the buy range.  I recommend, generally speaking, that you avoid chasing gaps.

See you in the morning.

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