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VRA Letter: A Phenomenal November. SOXL +53%. NAIL +60%. Next Up: All-Time Highs. Mini-Rotation? Multiple, Significant Technical Buy Signals in PM’s

Good Friday morning. The month of November was nothing short of phenomenal. The Dow Jones finished with an 8.9% gain (breaking its three-month losing streak). The S&P 500 also rose 8.9% in November, while Nasdaq jumped 10. ...

Posted On December 01, 20233 MIN Read
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Good Friday morning. The month of November was nothing short of phenomenal. The Dow Jones finished with an 8.9% gain (breaking its three-month losing streak). The S&P 500 also rose 8.9% in November, while Nasdaq jumped 10.7%. Both of these indexes had their best monthly performance since July 2022.

In the VRA Portfolio, two standouts among our ETF’s were SOXL (3 x Semi ETF), which was up 53% in November while NAIL (3 x Housing ETF) put up gains of 60%. 

Of note, the month of December is up 74% of the time (on average). While we are overbought and sentiment has gotten a bit frothy, we continue to look for a strong finish to the year. With $7 trillion sitting in money market accounts (another all-time high), pullbacks should be short-lived. Plenty of fuel for the fire. 

The S&P 500 and Nasdaq are approx. 1% from their 2023 highs but its the all-time highs that this market has its sights set on.

Distance from All-Time Highs

- S&P 500 5%

...

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