Your Trading Week Ahead — November 7th

Welcome to Your Trading Week Ahead for November 7th. Here’s what you need to know before you go…

Quick recap

Forget everything you heard about an impending “taper tantrum”. Markets rallied hard last week after the Fed announced they’d begin tapering their bond buying program. Chairman Jerome Powell also reassured investors that factors currently boosting inflation are indeed expected to be transitory.

The announcement following Wednesday’s FOMC meeting signaled blast off to traders as the major indices posted fresh all-time highs. The S&P 500 finished the week +2% at a record close of 4,697 after trading as high as 4,718 on Friday. It was the same story over at the Nasdaq, which closed +3.05% at 15,971. The Dow broke through the 36k level with force, finishing the week +1.42% at a record close of 36,327.

Bitcoin is still holding up nicely above 60k after setting new highs in late October. At writing, $BTC is trading at $61,886 — up about 2% since last Sunday.

Many other cryptocurrencies are flashing bright green on the week as well. However, recent altcoin darling Shiba Inu ($SHIB) is bucking that trend. It’s currently off the lows, but still down about 3% on the week.

Check out all the amazing upgrades to our Crypto Trading Room and learn to trade crypto like a pro. Try Market Rebellion Crypto for just $7.

What to watch this week

Earnings roundup

We’ve seen quarterly reports from many of the biggest names on Wall Street. But there’s still plenty to keep an eye on in the week ahead.

Traders are waiting to hear from popular stocks like AMC Entertainment ($AMC), Coinbase ($COIN), Roblox ($RBLX), PayPal ($PYPL), Affirm ($AFRM), and Beyond Meat ($BYND). We’ll also get data from recent meme stocks like AMC Entertainment ($AMC), SoFi Technologies ($SOFI), SmileDirectClub ($SDC), and ContextLogic ($WISH).

With the major indices at fresh all-time highs, it’ll be critical to see how the overall market responds as earnings continue rolling in. Here’s some of the most noteworthy reports to watch:

Economic calendar

There are several events on the calendar this week with the potential to move markets. Here’s some of the most important things to watch:

• NFIB small-business index (October) – Tuesday at 6am ET
• Producer price index final demand (October) – Tuesday at 8:30am ET
• Initial and continuing jobless claims – Wednesday at 8:30am ET
• Consumer price index (October) – Wednesday at 8:30am ET
• Core CPI (October) – Wednesday at 8:30am ET
• Wholesale inventories (September) – Wednesday at 10am ET
• Federal budget (October) – Wednesday at 2pm ET
• Job openings (September) – Friday at 10am
• University of Michigan consumer sentiment index (November) – Friday at 10am ET
• Five-year inflation expectations (November) – Friday at 10am ET

Enter the gateway to digital finance

Join us tomorrow after the close when Jon, Pete, and the Rebel traders sit down with Silvergate CEO Alan Lane for another Rebellion Roundtable.

They’ll dive into blockchain-based banking and the future of digital finance. You won’t see this exclusive livestream anywhere else. Best of all, it’s FREE! Click here or the image below to secure your seat.

Interested in learning how you can use the power of unusual options activity to conquer the market? Click here to download our Insider’s Guide to Trading UOA.