5 Minute Read

Market Recap – Monday, November 13th 2017

November 13, 2017

By | No Comments


SP 5002584.84+2.54(0.10%)
10-yr Note-1/322.402
NYSEAdv 1285Dec 1641Vol 791.5 mln
NasdaqAdv 1353Dec 1482Vol 1.97 bln


  • Stocks attempt to bounce back from last week’s decline.
  • General Electric (GE) slashes quarterly dividend, lowers guidance for 2018.
  • Crude oil closes flat.
  • US dollar closes higher following the weekend open.


RECAPThe market sold off overnight to gap lower in the morning but rallied sharply following the open to close the day slightly higher. Crude oil traded flat for most of day with the exception of a sharp mid-day selloff which it recovered from before the close. The US dollar gapped higher following the weekend open and closed slightly higher amid a lot of volatility.

In-depth look of daily news at Briefing.com (CLICK HERE)

In-depth look at after hours movers (CLICK HERE)

Economic Calendar


  • Nothing major today.

Upcoming Reports

  • November 14: Fed Chair Yellen Speaks
  • November 14: PPI m/m
  • November 15: CPI m/m
  • November 15: Core CPI m/m
  • November 15: Core Retail Sales m/m
  • November 15: Retail Sales m/m
  • November 15: Crude Oil Inventories
  • November 16: Unemployment Claims
  • November 17: Building Permits


FedWatch December 13 Rate Hike Probability for November 13: 100.0% (View the probability chart here)

A Look At The S&P 500 Chart – KEY Levels

  • RSI is near 70 signifies that the market is approaching levels where it may be overbought.
  • On Balance Volume is above its moving average.
  • The market has been on a consistent bull run since mid-August and despite showing signs of overextension, doesn’t show signs of slowing down. There has been a slight pull-back in the past few days.


A Look Into the Heat Map

The main story of the day is the drop in General Electric (GE) which slashed dividends and was made evident in the heat map.


(click on symbol for chart)
SPX – Bullish
Russell Bullish

VIX – 11.50


Oil (USO)Bullish
Ag (DBA)Neutral 
GLD Neutral – Gold has consolidated for much of the past month as the US dollar has gained strength.


UUP USD weighted ETF – Bullish – With the US Dollar breaking 94 on the dollar index, the reversal is complete and it now serves as confirmation on a new bullish trend.



With the market continuing on its long time bullish run, it would be hard to bet against it. There has been a slight pullback over the past few days, but not enough to call it a retracement or reversal.


You can follow daily updates on Twitter & Facebook, or text “follow @tackletrading” to 40404 to get text alerts!

If you are not a Pro Member and following the Stock & Option Picks, then check it out! There is a Promo code for Free 15 day trial: THETA

Leave a Reply

Chart Modal

Tackle Trading