Stocks are likely to decline for the first trading day of December

The Fortune Teller Speaks:

I predict a stock market decline today based on mixed Black Friday retail (NYSEARCA:XRT) sales and overriding technical and economic factors which will likley play out in a negative fashion later this week.

Wall Street Beats & Jives:

All eyes are still focused on Black Friday sales, which appeared to have more shoppers but less spending than usual. Still, we had our typical amount of brawls and retail debauchery; some reports indicated less chaos usual spending amounts, while others reported flat out mayhem. Today is also Cyber Monday, the key shopping day for online vendors during the Holiday season.

This week also brings us a massive amount of economic data which starts with the Markit PMI report today and ends with the infamous Non Farm Payrolls report on Friday. In the middle of the week we have the ADP employment report, weekly jobless claims report, and the ISM non-manufacturing report, just to name a few. The overall consensus seems to be that Wall Street and stocks are happy while Main Street continues to struggle. But, everyone also appears to be aware of the fact that this stock market cannot continue to go up forever; rather, we should be looking at a huge correction soon. That being said, December is typically known for higher stock market prices and the famous “Santa Claus Rally,” so right now it is really anyone’s guess as to how high markets can go before the end of the year.

Hindsight is a Beach and We’re Playing On It:

Last Monday I was again correct with my predictions, and last Friday finished mixed, as the S&P 500 (NYSEARCA:SPY) lost .08%, the NASDAQ 100 (NASDAQ:QQQ) added .37%, and the Dow Jones Industrial Average (NYSEARCA:DIA) lost .07%. Last week was up overall and the stock market finished up for the month of November; I am curious to see if the bulls really can continue the charge.

Are Stocks Driven by Need and Speed or Greed?

Stocks appear to be driven by greed with a hint of fear in the air. It is only a matter of time before this thing topples over.

Fun Fact:

Amazon.com (NASDAQ:AMZN) has begun testing drone deliveries. Yep, one day the famous retailer plans to use helicopter-like mini drones to drop packages off at your doorstep. Don’t let it land on your head!

My Secret Sauce is Red:

I am predicting a red day today.

This stock market forecast is for educational and informational purposes only. It is not intended to be investment advice nor an investment recommendation. Past performance is no guarantee of or indication of future performance and your performance may vary widely from any that may be indicated in this column. There is risk of loss in all investing and trading activities and you should consult your financial adviser before making any investment decisions.

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