Individual Institutional Fintech & Developer
Sign in
Open account
Individuals Institutional

Call toll-free 800.328.1267

Login

Market Insights

Opportunity knocks for those with trading in their DNA.
Curiosity creates opportunity. Insights create strategy. Born traders create their destiny.

Stocks

Options

Futures

Market Trends
Election Ignites Banks, Transports, Metals: Market Trends This Week
David Russell
November 7, 2024

Downloads are available here. TradeStation’s ideas on TradingView are available here.

Check out our next “State of the Market,” on Monday, 11/11.

Tickets for the Crossroads Summit 2024, sponsored by TradeStation Group, can be accessed here.

Sizing Up the S&P 500

  • S&P 500 passes 5,900 after decisive Trump election victory
  • 2.5% gain is biggest since November 2022
  • 135 new 52-week highs, the most since May 2021, according to TradeStation Data.
S&P 500, daily chart, with select patterns and indicators.

Gainers on Trump Win

  • UNH, HUM: Health insurers gain on reimbursement optimism
  • CLF, NUE, STLD, CMC, RS, GGB: Steel stocks rally on tariff hopes
    • ATI, AZZ, KMT: Related metal stocks
  • WFC, GS, JPM, MS, SYF, DFS, RF: Banks / financials gain on deregulation hopes
    • KBW Bank Index ($BKX) +11%, biggest gain since November 2020
  • DJ Transports ($DJT) +5.4%, biggest gain since November 2022
    • Truckers: SAIA, ODFL, XPO, KNX
    • Railroads & suppliers: NSC, TRN, CSX
  • Potential “regime changes”
    • Financials breakout but tech is below summer peak
    • Software breaks out as chips lag

Using the Platform

  • Scanner can help discover stocks in emerging groups like metals, industrials, financials
  • Scanner:
    • Criteria → Indicator → Sector <> “”
    • Criteria → Indicator → Industry <> “”

Upcoming Events

  • Earnings this afternoon: ANET
  • Fri 11/8: Consumer sentiment
  • Wed 11/13: CPI
    • Earnings: CSCO
  • Thu 11/14: PPI, crude-oil inventories
    • Earnings: DIS
Tags:

About the author

David Russell
David Russell is Global Head of Market Strategy at TradeStation. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

Related stories

All Eyes on the 10-Year Treasury Yield

All Eyes on the 10-Year Treasury Yield

by David Russell | Dec 19, 2024

Downloads are available here. TradeStation’s ideas on TradingView are available here. Check out our next “State of the Market,” on Monday, 1/16. Sizing Up the S&P 500 S&P 500 falls the most since 8/5, hits low of month Prices under 8-, 21-day EMAs, 50-day MA...

New Chapter in AI Boom Revives Megacaps

New Chapter in AI Boom Revives Megacaps

by David Russell | Dec 12, 2024

Downloads are available here. TradeStation’s ideas on TradingView are available here. Check out our next “State of the Market,” on Monday, 12/16. Sizing Up the S&P 500 S&P 500 approaches 6,100 after holding last week's low RSI near overbought is potentially...

Are Chips Getting Left Behind? Market Trends This Week

Are Chips Getting Left Behind? Market Trends This Week

by David Russell | Oct 31, 2024

Downloads are available here. TradeStation’s ideas on TradingView are available here. Check out our next “State of the Market,” on Monday, 11/4. Tickets for the Crossroads Summit 2024, sponsored by TradeStation Group, can be accessed here. Sizing...