Archive

2024

Browsing

In this StockCharts TV video, Mary Ellen reviews the broad-based rally that pushed the Equal-Weighted SPX to new highs. She also shared base breakouts and downtrend reversal candidates in the now hot Retail space, and takes a close look at 3 old school stocks that are seeing AI-related growth.

This video originally premiered November 22, 2024. You can watch it on our dedicated page for Mary Ellen on StockCharts TV.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

Bryce Underwood announced his decision suddenly on Thursday, after a steady stream of rumors and reports built up over the past few months, ever since it became obvious Michigan football was still pursuing the nation’s No. 1 recruit from right down the road.

Or rather, Adam Schefter did in the middle of a ‘Sportscenter’ segment.

The ESPN NFL insider and Michigan alum broke the news that Underwood, a quarterback who previously committed to LSU, had informed Michigan officials he would instead be joining the Wolverines. Underwood soon followed with a video posted to his Instagram account confirming his commitment to Michigan, a massive recruiting flip for the Wolverines and coach Sherrone Moore in the aftermath of the program’s national championship run last season.

Underwood’s path to Ann Arbor, Michigan, despite becoming a star at nearby Belleville High School, featured all sorts of intriguing plot twists, particularly in recent weeks as Michigan’s efforts ramped up. Here’s more background on Underwood and how he wound up choosing Michigan football over LSU:

Bryce Underwood recruiting journey

Underwood burst onto the national recruiting scene when he threw for more than 3,000 yards and 39 touchdowns as a freshman at Belleville High School in Belleville Michigan.

The 6-foot-3 quarterback has drawn comparisons to Vince Young and Cam Newton and is considered the No. 1 prospect in the 2025 class by multiple national recruiting websites.

Underwood committed to LSU last January, four days before Michigan won the national championship game over Washington and in the aftermath of Jayden Daniels winning the Heisman Trophy playing for Tigers coach Brian Kelly. It wasn’t until this fall that reports surfaced indicating Moore, Michigan’s first-year coach, had decided to renew the program’s recruiting efforts with Underwood.

Earlier this month, Michigan fans began showing up to Underwood’s playoff games with Belleville High School to encourage him to stay close to home with the Wolverines. But Underwood, in the wake of a CBS Sports report less than two weeks ago that Michigan had offered $10.5 million, posted a picture of himself on Instagram wearing a LSU jersey indicating he was likely to turn down Michigan.

Bryce Underwood, Larry Ellison and Michigan NIL

Michigan’s push to flip Underwood from LSU coincided with an NIL push by the school’s major donors. The Champions Circle NIL collective specifically mentioned the role played by Oracle founder Larry Ellison in a statement celebrating Underwood’s decision.

‘We are very excited to keep Bryce home in Michigan as he continues to build his legacy,’ chairman Nate Forbes said. ‘I want to personally thank Jolin and Larry Ellison who were instrumental in making this happen by providing Champions Circle with invaluable guidance and financial resources.’

The terms of Underwood’s NIL agreement with Michigan collective were not announced. The Baton Rouge Advocate previously reported that LSU offered Underwood $1.5 million annually, a figure that would have made him the highest-paid player on the team.

What Bryce Underwood flip means for Brian Kelly, LSU

Bryce Underwood’s decision to flip to Michigan comes at an inopportune moment for coach Brian Kelly, who is starting to feel pressure now that his third season in Baton Rouge has veered off course. LSU (6-4) is coming off a 27-16 loss to Florida in which Kelly was shown on camera screaming at Tigers receiver Chris Hilton on the sideline, the low point of a three-game skid that ended any shot at making the College Football Playoff.

LSU dropped to No. 6 in 247 Sports class of 2025 recruiting rankings following Underwood’s announcement on Thursday, and recruiting experts believe LSU could be in danger of losing more players since Underwood isn’t in the fold anymore and the program seems on shakier ground in the midst of a rocky fall. So Kelly, in addition to closing the 2024 season strong on the field, must now also hold together his recruiting class to keep college football’s hot seat at bay.

Are Bryce Underwood and Connor Stalions connected?

Oddly enough, yes.

The former Michigan football staffer who became infamous during the 2023 season for his role in Michigan’s sign stealing scandal recently began working with Underwood’s Belleville High School football team. It’s unclear if Stalions was involved in Underwood’s decision to change his commitment from LSU to Michigan. Belleville co-head coach Calvin Norman told the Detroit Free Press last month that Stalions is helping with the offense and ‘observing Bryce (Underwood).’

Can Bryce Underwood fix Michigan’s QB problem?

Michigan football’s backslide from winning the national championship last season to clawing to just get bowl eligible in 2024 is due to a variety of reasons, but the team’s quarterback situation is perhaps the most prominent. The Wolverines have the worst passing offense in the country among Power Four Conference teams entering their game against Northwestern Saturday.

Michigan hasn’t found a consistent replacement for J.J. McCarthy, cycling through three different starters. Underwood is likely to be given the reins early in his career, as his high-profile recruitment this fall seemed influenced by how dire Michigan’s passing woes have been at times this season.

Bryce Underwood age

Bryce Underwood is 17 years old and won’t turn 18 until August 19, 2025. He is considered young for his recruiting class.

This post appeared first on USA TODAY

The NHL season is more than a month old, and there have been four trades, plus extensions signed by Jake Oettinger, Alexis Lafreniere, Linus Ullmark and others.

Other top players also remain eligible for extensions, including Igor Shesterkin, Mikko Rantanen, Mitch Marner, John Tavares, Brock Boeser.

There will be more trades as teams build toward a Stanley Cup run or make moves for their long-term future. Here are key dates to watch: the holiday roster freeze in December, the league’s break for the 4 Nations Face-Off in February and the trade deadline in early March.

Follow along here this season for signings, trades, transactions and other news from the NHL:

Nov. 22: Golden Knights sign Brett Howden to five-year extension

Forward Brett Howden will average $2.5 million in the five-year contract extension. He plays in the Vegas Golden Knights’ bottom six and has eight goals this season.

After the Golden Knights lost free agents Jonathan Marchessault, Chandler Stephenson and others from their 2023 Stanley Cup title team this summer, they’ve been working to get extensions done early. Defensemen Shea Theodore and Brayden McNabb signed recently. Goalie Adin Hill and Keegan Kolesar also are pending unrestricted free agents from that championship team.

Also: Forward Alex Nylander is joining All-Star older brother William on the Toronto Maple Leafs after signing a one-year, $775,000 NHL contract and getting recalled. He had been on an American Hockey League contract. The Maple Leafs placed forward Matthew Knies on the injured list after he absorbed a big hit from Vegas’ Zach Whitecloud this week.

Nov. 21: Hurricanes goalie Frederik Andersen to have knee surgery

This marks the fourth season in a row that Andersen has missed extended time. He was limited to 16 games last season with a blood-clotting issue and missed more than two months of 2022-23 with a lower-body injury. An injury kept him out of the 2022 playoffs.

Pyotr Kochetkov is the Hurricanes’ No. 1 goalie in Andersen’s absence. Andersen, 35, is in the final year of his contract.

Nov. 19: Canucks’ J.T. Miller out indefinitely for personal reasons

‘Right now, our sole focus is making sure that J.T. knows the entire organization is here to support him,’ general manager Patrik Allvin said. ‘Out of respect to J.T., we will have no further comment at this time.’

Miller ranks second on the Canucks and is their top-scoring forward with 16 points in 17 games. He scored 103 points last season.

Nov. 19: Boston Bruins fire coach Jim Montgomery

The Boston Bruins made Jim Montgomery the first coaching casualty of the 2024-25 NHL season, firing him less than two seasons after he was named coach of the year.

Associate coach Joe Sacco, a former Colorado Avalanche head coach, will take over behind the bench as the interim head coach.

The move came after a blowout loss to the Columbus Blue Jackets on Monday. Montgomery, who was in the final year of his contract, was let go with the team sitting at 8-9-3 and sporting poor underlying numbers.

BRUINS: More details on coaching change

Nov. 19: Capitals’ Alex Ovechkin out with leg injury

Alex Ovechkin’s chase of Wayne Gretzky’s goal record is temporarily on hold after the Washington Capitals star left Monday night’s game with an injury.

The team announced Tuesday that Ovechkin is week-to-week with an injury to his lower leg after he absorbed a leg-on-leg hit from Utah Hockey Club forward Jack McBain during the third period.

Ovechkin had been on a torrid scoring pace this season. Before Monday’s injury, he had scored twice in the 6-2 win over Utah, giving him five goals in the last two games and a league-leading 15 goals in 18 games.

Also: The Edmonton Oilers claimed forward Kasperi Kapanen off waivers from the St. Louis Blues. He provides speed and depth to a team that hasn’t received much scoring from the wings this season.

Nov. 18: Islanders’ Mike Reilly to have procedure on heart

General manager Lou Lamoriello told reporters that the pre-existing heart condition was discovered during routine testing for a concussion that had sidelined the defenseman since Nov. 1.

‘It’s probably a blessing in disguise of what transpired,’ Lamoriello said. ‘They detected this, something that you’re sometimes born with, but never knew.’

He said Reilly has been cleared from the concussion.

Nov. 18: Sabres send down goalie; Sharks call one up

The Buffalo Sabres sent 22-year-old goalie Devon Levi to the American Hockey League to get him some playing time amid his recent struggles. The team will use Ukko-Pekka Luukkonen and recently reacquired James Reimer as their tandem. Levi has given up 17 goals in his last four starts.

Meanwhile, the San Jose Sharks called up highly touted goalie prospect Yaroslav Askarov, 22, after he went 6-3 with a 1.92 goals-against average in the AHL. He was acquired from the Nashville Predators in an offseason trade. Sharks goalie Vitek Vanecek had left Saturday’s game with an injury.

Also: The NHL announced that last month’s Carolina Hurricanes-Tampa Bay Lightning game, whichas was postponed by Hurricane Milton, has been rescheduled for Jan. 7 at 7 p.m. ET. … Philadelphia Flyers goalie Samuel Ersson (lower body) was placed on injured reserve.

Nov. 15: Avalanche’s Valeri Nichushkin returns from suspension

Colorado Avalanche forward Valeri Nichushkin returned Friday night from his six-month suspension. He was suspended during the playoffs last May under Stage 3 of the NHL/NHLPA Player Assistance Program. He also was in the program for about two months earlier in the 2023-24 season and missed part of the 2023 playoffs for personal reasons. Nichushkin is a key offensive contributor with 28 goals in 54 games last season. Injured forwards Jonathan Drouin and Miles Wood also returned Friday.

Also: The Vegas Golden Knights signed defenseman Brayden McNabb, the franchise leader in games played, to a three-year contract extension that averages $3.65 million a year.

OILERS: Connor McDavid is fourth fastest to reach 1,000 points

Nov. 13: Sabres claim goalie James Reimer off waivers

The Buffalo Sabres claimed goaltender James Reimer off waivers, bringing him back to where he signed a free agent contract in the summer. Reimer was claimed by the Anaheim Ducks off waivers earlier this season when the Sabres tried to send him to the American Hockey League. The Ducks put him on waivers after the return of injured goalie John Gibson. Reimer, on a one-year, $1 million contract, played two games in Anaheim with a 4.50 goals-against average. No. 1 Sabres goalie Ukko-Pekka Luukkonen was hurt in Monday’s loss but hasn’t been ruled out for Thursday’s game.

Also: Boston Bruins defenseman Hampus Lindholm will be out ‘weeks’ with a lower-body injury after blocking a shot, coach Jim Montgomery said.

Nov. 12: Capitals reacquire Lars Eller in trade with Penguins

Center Lars Eller, 35, is a familiar face for the Washington Capitals after playing in Washington from 2016-23 and winning a Stanley Cup there in 2018. He kills penalties and is strong in the faceoff circle. The Pittsburgh Penguins’ side of the trade might be more interesting. They get a 2027 third-round pick and a 2025 fifth-rounder, and this also could be an indication that the Penguins are shaking up the roster after a disappointing start. Eller’s trade will allow the team to give more ice time to younger players. He’s a pending unrestricted free agent.

Also: The Winnipeg Jets claimed goalie Kaapo Kahkonen off waivers from the Colorado Avalanche and loaned him to their American Hockey League affiliate. They had lost him on waivers to the Avalanche last month.

Nov. 11: Flames’ Anthony Mantha to have season-ending surgery

Also: The Colorado Avalanche placed goalie Kaapo Kahkonen on waivers. They had claimed him off waivers from the Winnipeg Jets last month.

Nov. 9: Penguins recall veteran goalie Tristan Jarry from minors

The Pittsburgh Penguins recalled two-time All-Star goalie Tristan Jarry from his conditioning stint in the American Hockey League. Jarry was loaned to Wilkes-Barre/Scranton on Oct. 26 after recording a 5.37 goals-against average and .836 save percentage. His AHL numbers were 2.16, .926.

Also: The Philadelphia Flyers made rookie Matvei Michkov a healthy scratch for a second consecutive game.

Nov. 8: Kraken acquire Daniel Sprong from Canucks

The Seattle Kraken landed Daniel Sprong, one of their former players, in exchange for future considerations. The Kraken have struggled to score this season and Sprong had 21 goals for them two seasons ago. The forward has scored double-digit goals five times. He had one goal with Vancouver this season.

Nov. 7: Flyers rookie Matvei Michkov to be healthy scratch

Coach John Tortorella called the move ‘part of the process.’

‘With young guys, they can watch games, too, as far as development,’ he told reporters. ‘It’s trying to help them.’

Michkov, 19, has 10 points in 13 games and a minus-8 rating and was NHL rookie of the month in October. He had just one point in his last five games and his ice time dropped in the last four.

Nov. 4: Sharks’ Macklin Celebrini ready to return from injury

San Jose Sharks center Macklin Celebrini, the No. 1 overall pick in the 2024 draft, is ready to return to action after aggravating an injury in the season opener, according to NHL.com.

He took part in practice Monday on the top line with Tyler Toffoli and Mikael Granlund and is looking to play his second game season Tuesday night against the Columbus Blue Jackets.

Celebrini said he reinjured his hip on his first shift of the opener but played the full game and had a goal and assist. He has missed 12 games. The Sharks opened the season 0-7-2 but are 3-1 in their last four games.

Also: St. Louis Blues defenseman Philip Broberg will be out four to six weeks with a lower-body injury. He needed help getting off the ice Saturday after he was checked by the Toronto Maple Leafs’ Mitch Marner. … The Boston Bruins signed forward Tyler Johnson to a one-year, $775,000 contract. He won two Stanley Cups with the Tampa Bay Lightning and spent the last three seasons with the Chicago Blackhawks.

Nov. 2: Islanders’ Mathew Barzal, Adam Pelech go on injured list

New York Islanders No. 1 center Mathew Barzal was placed on long-term injured reserve with an unspecified upper-body injury. He’ll be out four to six weeks. He had 80 points in 80 games last season but had been limited to five points in 10 games this season as the Islanders have struggled to score.

Islanders defenseman Adam Pelech also will be out four to six weeks after being hit in the face by a puck. He went on the injured list.

Oct. 30: Sharks acquire Timothy Liljegren from Maple Leafs

The Toronto Maple Leafs get defenseman Matt Benning, a 2025 third-round pick and a 2026 sixth-rounder. Liljegren, 25, had been limited to one game in Toronto this season, and the Maple Leafs recently committed to blue-liner Jake McCabe with a five-year extension. But Liljegren should fit in well in San Jose, which is building around younger players. Benning, 30, and Liljegren are signed through 2025-26.

This is the second day with an NHL trade after none previously since the season opened in North America.

Oct. 29: Utah acquires defenseman Olli Maatta from Red Wings

The Utah Hockey Club gives up a third-round pick as it addresses a desperate need for a veteran defenseman. Sean Durzi and John Marino are out long-term after surgery. Utah has been leaking goals during a four-game losing streak, including blowing a 4-1 lead late in the third period against the previously winless San Jose Sharks. Maatta is solid defensively and has nearly 700 games of NHL experience.

Oct. 28: Maple Leafs sign Jake McCabe to five-year extension

The Toronto Maple Leafs signed defenseman Jake McCabe to a five-year extension with an annual average value of $4.51 million. Sportsnet’s Elliotte Friedman reports there is some deferred money in the deal. McCabe, 31, had been acquired from the Chicago Blackhawks in a February 2023 trade and ranks fourth on the team in average ice time this season. He has three assists in nine games and a team-best plus-6 rating.

Also: The New York Rangers recalled rugged forward Matt Rempe from the American Hockey League after he played two games there. The Rangers play the Washington Capitals on Tuesday in what has become a feisty rivalry.

Oct. 26: Penguins send goalie Tristan Jarry to minors

The Pittsburgh Penguins sent two-time All-Star goaltender Tristan Jarry to their American Hockey League affiliate on a conditioning loan after his early season struggles. He had been sent home from the Penguins’ road trip to work on his game after recording a 5.47 goals-against average and .836 save percentage in three games. He was pulled from his last start on Oct. 16 and gave up six goals in the opener.

Jarry is in the second season of a five-year contract that carries a $5.375 million cap hit. Rookie Joel Blomqvist has had the most starts in the Penguins net this season and Alex Nedeljkovic recently returned from an injury.

Also: The New York Islanders signed rugged forward Matt Martin for the rest of the season. He had been to camp on a tryout agreement after spending 13 of his 15 seasons with the Islanders.

Oct. 25: Rangers’ Alexis Lafreniere gets seven-year extension

The New York Rangers and Alexis Lafreniere have agreed to a seven-year extension as he builds on last season’s breakthrough. The 2020 No. 1 overall pick will average $7.45 million in the deal, according to lohud.com, part of the USA TODAY Network. That’s up from this year’s $2.325 million cap hit. Lafreniere, 23, broke through with 28 goals and 57 points last season and added eight goals and 14 points in the playoffs. He is averaging a point a game this season through seven games and scored his fourth goal of the season on Thursday. He is signed through 2031-32.

Oct. 24: Golden Knights’ Shea Theodore signs for seven years

Vegas Golden Knights defenseman Shea Theodore will average $7.425 million in the extension, which kicks in next season and runs through 2031-32. Getting him signed now is important after the Golden Knights lost Jonathan Marchessault, Chandler Stephenson and others from their 2023 Stanley Cup team to free agency during the summer.

Theodore, 29, is the franchise’s top-scoring defenseman with 296 points and has opened this season with seven points in six games. Vegas’ top three defensemen (also Alex Pietrangelo and Noah Hanifin) are signed through at least 2026-27.

Oct. 23: Utah’s Sean Durzi, John Marino out long-term after surgery

The Utah Hockey Club, who beefed up their defense in the offseason, will be without two key blueliners long-term after they had surgery.

Sean Durzi, who was injured in an Oct. 15 game, will miss four to six months after shoulder surgery. John Marino, who has yet to play this season, is out three to four months after back surgery.

Utah added defensemen Mikhail Sergachev, Marino and Ian Cole in the offseason. Durzi, acquired last season when the team was in Arizona, signed a four-year, $24 million contract during the summer.

In other injury news, St. Louis Blues forward Robert Thomas has a fractured ankle and will be evaluated in six weeks.

Oct. 22: Panthers give coach Paul Maurice contract extension

Maurice, who joined the Panthers in 2022-23, went to the Stanley Cup Final in his first season and won it last year. His 29 playoff wins are a franchise record.

He has 98 regular-season wins with Florida and his 873 career wins rank fourth all time in NHL history.

Also: The Blues signed forward Jake Neighbours to a two-year, $7.5 million contract extension.

Oct. 17: Stars’ Jake Oettinger signs eight-year contract extension

The Dallas Stars signed goalie Jake Oettinger to an eight-year, $66 million contract extension that kicks in next season. The $8.25 million cap hit matches the deals recently signed by the Bruins’ Jeremy Swayman and Senators’ Linus Ullmark.

Oettinger has led the Stars to the Western Conference final the past two seasons.

Oct. 12: Aleksander Barkov, Macklin Celebrini are injured

The NHL season is young, but two prominent players are already out with injuries.

Florida Panthers captain Aleksander Barkov will miss two to three weeks after crashing leg first into the boards while trying to prevent an empty net goal on Thursday. His stick had broken but he couldn’t stop Ottawa’s Tim Stutzle from scoring. The time frame should allow Barkov to participate in the two Global Series games against the Dallas Stars in Tampere, Finland, on Nov. 1-2. Barkov is the first Finnish NHL captain to win the Stanley Cup. He won the Selke Trophy last season for the second time as top defensive forward.

Meanwhile, the San Jose Sharks placed No. 1 overall pick Macklin Celebrini on injured reserve with a lower-body injury. Coach Ryan Warsofsky said Celebrini is week-to-week. He had been dealing with an injury in training camp but played in this week’s season opener, scoring a goal and an assist.

Oct. 11: Avalanche claim goalie Kaapo Kahkonen off waivers

In a busy day for goalie transactions, the Colorado Avalanche claimed Kaapo Kahkonen off waivers from the Winnipeg Jets. Colorado lost 8-4 in the opener, with Alexandar Georgiev giving up five goals and backup Justus Annunen giving up two goals on four shots. The Avalanche are Kahkonen’s fourth team in a year. He split time last season between the San Jose Sharks and New Jersey Devils.

In other moves, the Minnesota Wild called up Jesper Wallstedt, their goalie of future, who will join Game 1 winner Filip Gustavsson and Marc-Andre Fleury. The Nashville Predators sent down Matt Murray, who backed up Scott Wedgewood on Thursday with injured No. 1 goalie Juuse Saros unable to play.

Oct. 10: Hurricanes-Lightning game postponed because of Milton

Saturday’s game between the Carolina Hurricanes and Tampa Bay Lightning has been postponed as the Tampa Bay area recovers from Hurricane Milton. The league said a makeup date would be announced as soon as it can be confirmed.

The Lightning are playing their season opener in Carolina on Friday. Saturday’s game was to be the start of a three-game homestand (also Tuesday and Thursday).

Amalie Arena got through the storm fine, though Tropicana Field, home of MLB’s Tampa Bay Rays in St. Petersburg, Florida, suffered major damage to its roof.

Oct. 10: Blue Jackets captain Boone Jenner has surgery

Jenner had shoulder surgery to repair an injury he suffered during training camp and could miss up to six months.

‘Our hope is he can return before the end of the season,’ said Columbus Blue Jackets general manager Waddell. ‘His loss will be felt by our club, but we have a strong leadership group in place and players will be given an opportunity to take on greater roles on and off the ice.’

Boone, who finished second on the Blue Jackets last season with 22 goals and is the franchise leader in games played, has been the team’s captain since 2021-22.

Oct. 9: Linus Ullmark, Joey Daccord get contract extensions

Ullmark, who won the Vezina Trophy with the Bruins in 2022-03, was traded to the Ottawa Senators this offseason so Boston had the room to re-sign Swayman. Ullmark will get four years, $33 million from the Senators and have the same $8.25 million cap as Swayman.

Meanwhile, Seattle Kraken goaltender Joey Daccord received a five-year, $25 million extension. He filled in for Philipp Grubauer after that goalie’s injury last season and got the NHL’s first shutout in the Winter Classic. Both contracts will take effect next season.

This post appeared first on USA TODAY

President-elect Trump will take office just as Iran has the potential to become the world’s 10th nuclear-armed state, and it’s unclear if either side knows how it will approach the other. 

Judging by Trump’s last time in office, it would suggest he would come out the gate with a combative tone — having instituted a ‘maximum pressure’ campaign to ‘bankrupt’ the regime. His secretary of state pick, Sen. Marco Rubio, R-Fla., has been an unyielding Iran hawk in the Senate. 

After the regime fired 200 missiles toward Tel Aviv last month, Rubio said: ‘Only threatening the survival of the regime through maximum pressure and direct and disproportionate measures has a chance to influence and alter their criminal activities.’

That could reinstate — and eliminate — any waivers for oil sanctions. It could mean threatening not to conduct business with countries that buy Iranian fuel products. 

Rep. Michael Waltz, R-Fla., Trump’s pick for national security adviser, is of a similar mind. 

Last month, when the Biden administration urged Israel to keep its counterstrikes ‘proportional,’ Waltz slammed President Biden for pressuring Israel ‘once again to do less than it should.’ 

He suggested Israel strike oil facilities on Kharg Island and Iran’s nuclear plants in Natanz, a move the Biden team feared Iran would deem escalatory. 

Last month, Trump appeared to rule out the U.S. getting involved in any effort to take out Iranian Supreme Leader Ayatollah Khameini and his government. ‘We can’t get totally involved in all that. We can’t run ourselves, let’s face it,’ he said.

‘I would like to see Iran be very successful. The only thing is, they can’t have a nuclear weapon.’

Trump has said he does not want Iran to have nuclear weapons, but has not laid out how he would stop it from doing so. 

‘I’m not looking to be bad to Iran, we’re going to be friendly, I hope, with Iran, maybe, but maybe not. But we’re going to be friendly, I hope, we’re going to be friendly, but they can’t have a nuclear weapon,’ he said at a New Jersey press conference in August. 

Last month, Trump suggested Israel strike Iran’s nuclear facilities. 

Following the Iranian missile attacks, he suggested Israel should ‘hit the nuclear first and worry about the rest later.’ 

On Thursday, Iran said it was activating ‘advanced’ centrifuges after the International Atomic Energy Agency (IAEA) board of governors censured it for failing to cooperate with the U.N. nuclear watchdog. Without cooperation, the world is in the dark about how quickly Iran is advancing its technological capabilities to use its uranium fuel for a bomb. 

‘We will significantly increase enrichment capacity,’ Behrouz Kamalvandi, Iran’s atomic energy organization spokesman, said after the censure. 

What’s standing between Iran and a fully formed nuclear weapon is both a political and a technological question. 

While the nation has enough fissile material for a nuclear weapon, the process of turning that into a warhead could take anywhere from six to 12 months, according to Nicole Grajewski, nuclear policy expert at the Carnegie Endowment for International Peace. 

‘That’s when Iran would be most vulnerable to attack,’ she said. ‘Iran could probably make a dirty bomb from its current stockpile.’ 

Over the years, Iran’s nuclear progress has been set back by international sanctions, COVID-19, high-profile assassinations of its nuclear scientists and attacks and sabotage on its nuclear facilities led by Israel’s intelligence agency Mossad. 

And announcing they have a nuclear weapon could threaten Iran’s longtime goal of regional hegemony. 

‘Iran is less isolated than it was four years ago, but it’s still pretty isolated. Announcing they are nuclear would trigger an arms race in the Middle East,’ predicted Simone Leeden, former Deputy Assistant Secretary of Defense for the Middle East. 

‘Saudi Arabia and the UAE would decide they will pursue nuclear weapons the minute Iran declares it has its own. Another action they could and would take is deepening ties with Israel.’ 

Iran also understands that producing a nuclear bomb would likely evoke a military response from Israel and the U.S. under Trump. 

After years of trying to assassinate Trump, the Iranians don’t seem to have figured out whether to approach the U.S. relationship under Trump with a combative or diplomatic tone. Just last month, they told President Biden they would not make any efforts to kill the president-elect going forward. 

‘I think that there’s been a lot of mixed signaling from the kind of Trump transition team is, you know, you see Brian Hook being appointed, who was behind this maximum pressure and sanctions,’ said Grajewski. But then, on the other hand, Trump envoy Elon Musk reportedly met with Iranian officials to discuss how the two nations could dial back tensions. 

‘I think that he is being opaque on purpose,’ said Leeden. ‘I don’t think he wants to show his cards as a negotiator.’ 

‘In all likelihood, maximum pressure is going to be restored,’ said Behnam Taleblu, Iran expert at the Foundation for Defense of Democracies. ‘U.S. partners are asking now, to what end? Is it towards regime collapse? Is it towards a deal? What if the Iranians don’t negotiate in good faith?’

Former Israeli officials have suggested Prime Minister Benjamin Netanyahu might be emboldened to strike Iranian nuclear facilities with the go-ahead from the Trump administration. But a lot of Iran’s centrifuge and enrichment facilities are deep underground, complicating a bombing campaign against them.

To get to them, Israel would need the U.S.’ Massive Ordnance Penetrators (MOP), or ‘bunkbuster bombs.’ 

‘It would require U.S. involvement — either the direct transfer of this, which is currently not really discussed — that would be pretty escalatory — or Israel getting the United States to also conduct this mission,’ said Grajewski. 

The Trump team will also place a high priority on bringing Saudi Arabia into the Abraham Accords, solidifying the Sunni Muslim alliance against Iran. But the Saudis have insisted the U.S. and Israel must recognize a Palestinian state for such a deal to get done. 

‘The incoming administration wants to quiet down this kinetic energy in the Middle East quickly, because we have bigger fish to fry as a country,’ said Leeden.

The U.S. has long looked to pivot its military focus away from the Middle East and toward the Indo-Pacific. The outbreak of war between Israel and Hamas after Oct. 7 tore that focus back to the Arab world. 

This post appeared first on FOX NEWS

The last full trading week before the Thanksgiving holiday has ended on a positive note. Following up on yesterday’s blog post, the S&P 500 Equal Weighted Index ($SPXEW) has continued to outperform the S&P 500’s price action and hit a new all-time high. Similarly, the Nasdaq 100 Equal Weighted Index ($NDXE) is close to its all-time high (0.10% away from it according to the Distance to 52-Week High indicator).

The mid and small-cap indexes, $MID and $SML, remained market index leaders on Friday. From the daily chart of the S&P 600 Small Cap Index ($SML) below, note how the index broke out of a sideways trading range, climbed to a high on November 11, and then pulled back and bounced off the previous October high resistance level. It’s now on its way back to its all-time high.

FIGURE 1. DAILY CHART OF S&P 600 SMALL CAP INDEX ($SML). A breakout followed by a pullback and then a bounce of a support level looks promising for small-cap stocks.Chart source: StockCharts.com. For educational purposes.

The percentage of stocks trading above their 50-day moving average is rising, and advances outperform decliners. With market breadth supporting bullish price action, it’s safe to say that investors are piling into small caps.

So, in a nutshell, Friday’s price action was a continuation of Thursday’s action. The S&P 500 ($SPX) and Dow Jones Industrial Average ($INDU) are approaching their all-time highs, but the Nasdaq Composite ($COMPQ) still has to break through 19,080 to make its way to its all-time high.

In addition to equities, precious metals, especially gold, have also been climbing higher. The daily chart of the SPDR Gold Shares ETF (GLD) below shows that after hitting a high on October 30, GLD fell approximately 8.30%. It has now bounced back, rising around 5.80% from the November 14 low. GLD faces resistance that sits slightly above $250 (red horizontal dashed line) and support from its 25-day simple moving average.

FIGURE 2. DAILY CHART OF SPDR GOLD SHARES (GLD). Gold’s rise, pullback, and rebound make it a chart worth adding to your ChartLists.Chart source: StockCharts.com. For educational purposes.

If GLD overcomes that resistance next week, it indicates that investors’ concerns about slower rate cuts and geopolitical tensions remain front and center. 

The Greenback Keeps On Growing 

The US dollar has also been rising, hurting other currencies, especially the euro. The weekly chart of $EURUSD below shows it hitting levels it last saw at the end of 2022.

FIGURE 3. WEEKLY CHART OF $EURUSD. The steep fall in the euro could be due to a weakening European economy and concerns about geopolitical tensions.Chart source: StockCharts.com. For educational purposes.

The rise in the greenback is due to a strong US economy, but the move in the $EURUSD is significant. Europe is experiencing slower economic growth, but geopolitical concerns have also risen. The two may be the reason for the intensity of the fall in the euro.

Usually, a stronger dollar puts pressure on commodities such as precious metals, but that’s not happening right now. Besides potential geopolitical tensions, there’s also the concern that the Fed may have fewer interest rate cuts next year. According to the CME FedWatch Tool, the probability of a 25 basis point in the December FOMC meeting has dropped to 56.20%.

Bitcoin’s Bold Move

You can’t help but notice Bitcoin’s rise this week. The cryptocurrency crossed its psychological $100,000 level, but closed slightly lower at $99,210 (see chart below).

FIGURE 4. DAILY CHART OF BITCOIN. The explosive rally in Bitcoin has caught everyone’s attention. $BTCUSD hit the psychological $10K level but couldn’t hold on to it.Chart source: StockCharts.com. For educational purposes.

After bouncing off its 21-day exponential moving average (EMA) in early November, $BTCUSD rocketed higher, consolidated for about seven days, and then continued its journey higher. The moving average convergence/divergence indicator in the bottom panel shows no signs of slowing down.

Looking Ahead 

There’s been a lot of excitement this week. Next week is a short trading week, but there are some key economic data to watch, the more important ones being the PCE, durable goods orders, and FOMC minutes. This would bring the focus on what the Fed is likely to do when it meets next. If there’s an indication of no rate cuts in the December meeting, we could see more of the same price action spill into next week.

If you want to be notified of new articles published in the ChartWatchers blog, sign up on this page.

End-of-Week Wrap-Up

S&P 500 up 1.68% for the week, at 5969.34, Dow Jones Industrial Average up 1.96% for the week at 44,296.51; Nasdaq Composite up 1.73% for the week at 19,003.65$VIX down 5.20% for the week, closing at 15.30Best performing sector for the week: MaterialsWorst performing sector for the week: Health CareTop 5 Large Cap SCTR stocks: Summit Therapeutics (SMMT); Applovin Corp. (APP); MicroStrategy Inc. (MSTR); Texas Pacific Land (TPL); Palantir Technologies (PLTR)

On the Radar Next Week

October New Home SalesFOMC MinutesOctober Durable Goods OrdersOctober PCE Price IndexNovember Chicago PMI

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

I’ve always found technical analysis to be a fantastic history lesson for the markets. If you want to consider how the current conditions relate to previous market cycles, just compare the charts; you’ll usually have a pretty good starting point for the discussion.

As we near the end of an incredibly bullish year for the S&P 500 and Nasdaq, I’m seeing plenty of signals that suggest the strength of 2024 may lead to a much weaker following year. Today we’ll compare 2024 to 2021, talk about the many conditions which are highly similar, and also review an initial signal from one of the most bearish indicators in our arsenal, the Hindenburg Omen.

Market Trend Model Shows Striking Similarities

2024 has been a strong market year by any standard, from the continuous upward slope of moving averages, to the relatively low volatility compared to previous years, to the minimal drawdowns along the way. My Market Trend Model is what I often use to make an initial comparison between two historical periods, and it certainly backs up this particular conjecture.

Note our long-term model (purple histogram) has been bullish for all of 2024, exactly as we logged in 2021. We can see the same pattern of consistent bullishness from the medium-term mode (green histogram) for both years. Even the short-term model appears to identify pullbacks of a similar timeframe and depth for both years.

2021 Finished Strong, But 2022 Brought a Whole New Trend

2021 ended in a position of strength, with the S&P 500 making a new high going into year-end. However, the moment the calendar was flipped to 2022, everything quickly changed to a bearish phase. The short-term model turned almost immediately, and instead of quickly turning back higher, it remained bearish for weeks at a time.

The medium-term model, which I consider my main risk on/risk off indicator, turned bearish in mid-January and remains so until the end of Q1. So what differentiated early 2022 from the garden variety and very buyable pullbacks of 2021 was that the medium-term model behaved quite differently.

As we head into year-end 2024, this is perhaps the most important chart in my Market Misbehavior LIVE ChartList, as it would help confirm whether an impending selloff is different from the relatively painless and short-lived pullbacks in 2024.

The Hindenburg Omen Suggests a Potential Topping Pattern

Strategist Jim Miekka created the Hindenburg Omen by reviewing a series of previous major market tops and looking for similarities. He honed in on three particular factors:

The market is in a confirmed uptrend as measured by the 50-day ROC of the NYSE Composite Index ($NYA).At least 2.5% of the NYSE stocks make a new 52-week high AND a new 52-week low on the same day.The McClellan Oscillator breaks below zero, confirming negative breadth conditions.

One final signal Miekka included was that there should be two independent signals within one month.  

In the bottom panel, I’m showing a composite indicator on StockCharts that tracks the three conditions listed above. You may notice that there have been a number of initial signals so far in 2024, but at no time have we received the confirmation signal within one month of the initial signal!

That’s where we’re at as we look forward to year-end 2024 — weakening breadth conditions and investor indecision. Now it’s all about whether we receive that confirmation by mid-December. If so, that would suggest that early 2025 may look painfully similar to a very bearish early 2022!

RR#6,

Dave

P.S. Ready to upgrade your investment process? Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

The Pittsburgh Steelers left Thursday night’s matchup against the Cleveland Browns with a 24-19 loss at Huntington Bank Field, but one of the team’s key players was unmoved by his opponent’s performance.

Wide receiver George Pickens chalked up the result to the accumulating snow, denying Pittsburgh’s AFC North rival any credit.

‘The conditions played a huge, huge part in today’s game,’ Pickens told reporters after the game when asked what the Steelers should take away from the game. ‘I don’t really think the Cleveland Browns are a good team at all. I think the conditions kinda saved them today.”

The Steelers (8-3) outgained the Browns 368-304 and also won the takeaway battle 3-1. Cleveland also converted just one of 10 third-down attempts, though the team was successful on all four of its fourth-down tries.

Still, the Browns (3-8) held the lead in the second half until Calvin Austin III’s 23-yard connection with Russell Wilson put the Steelers ahead 19-18 with 6:15 remaining. But a shanked 15-yard punt by Corliss Waitman gave Cleveland a prime opportunity to recapture the lead, and running back Nick Chubb powered into the end zone from 2 yards out with 57 seconds left to put the Browns back on top.

All things Steelers: Latest Pittsburgh Steelers news, schedule, roster, stats, injury updates and more.

The Steelers drove 29 yards on the final drive, but Wilson’s heave to the end zone fell incomplete. Pickens, who had four catches for 48 yards on seven targets, appeared to get into a clash with Browns cornerback Greg Newsome II after the play.

In assessing the two teams after the game, Steelers coach Mike Tomlin struck a different tone from the one Pickens chose.

‘I thought (the Browns) brought it tonight. … They made more plays over the course of 60 minutes than we did,’ Tomlin said in a postgame news conference.

The Steelers and Browns will meet again on Dec. 8 in Pittsburgh.

This post appeared first on USA TODAY

The Pittsburgh Steelers and Cleveland Browns typically play each other tough. Thursday night was no different as a wintry mix fell from the Cleveland sky.

Playing in freezing temperatures, the Browns stunned the Steelers 24-19 to snap Pittsburgh’s five-game winning streak.

Myles Garrett and the Browns controlled most of the game versus their AFC North rival. Garrett was a game wrecker, and the Browns defense contained Russell Wilson and Pittsburgh’s offense.

Thursday’s contest at Huntington Bank Field was a prototypical AFC North battle – full of physical play and good defense.

USA TODAY Sports selects the winners and losers from the Week 12 AFC North battle:

NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.

Winners

Myles Garrett

Garrett was the best player on the field in the first half. He had three sacks, one forced fumble and four pressures.

Garrett recorded a sack on Pittsburgh’s first offensive possession that led to a miss field goal by Steelers kicker Chris Boswell. The Browns’ star defensive end then had a strip sack in the second quarter and closed out the first half with another sack.

Garrett faced multiple double teams in the second half as the Steelers correctly adjusted their game plan.

The Browns’ defensive end did have to check into the blue tent in the fourth quarter but returned to the game.

Garrett tallied five tackles and three sacks in the win.

Jameis Winston

Winston was locked in. His pregame interview is proof.

The Browns’ QB had a couple errant throws, but made perhaps the two biggest plays in the game.

Early in the fourth quarter on fourth down, Winston put his body on the line. He scrambled around, ran 2 yards and leaped to cross the plane for a touchdown. The battery to his communications device even popped out of his helmet during the TD scramble, per the Amazon broadcast. Winston’s touchdown, plus a successful two-point conversion, gave the Browns an 18-6 lead with 12:16 remaining.

Later in the fourth quarter, the Browns’ quarterback completed a 15-yard pass to Jerry Jeudy that set up the game-winning score.

Winston went 18-of-27 passing for 219 yards. He tossed one interception and lost a fumble. It was an up-and-down performance by the journeyman QB, but he competed.

Nick Chubb

Thursday was Chubb’s first game against the Steelers since the brutal knee injury he sustained in the teams’ 2023 Week 2 game.

Chubb ran hard and got tough yards against a stingy Pittsburgh run defense. The Browns’ running back poetically scored the game-winning touchdown with under a minute left in the fourth quarter.

Chubb rushed 20 times for 59 yards and had two rushing TDs. 

Jerry Jeudy

Jeudy’s turned himself into Cleveland’s top wide receiver. His huge 15-yard catch on third down set up Nick Chubb’s game-winning, 2-yard touchdown.

Jeudy finished with a game-high six catches for 85 yards. He seemed to be always open in the snow.

Grounds crew

The Browns’ grounds crew deserves credit for maintaining the field and making the snowy surface at least playable.

Losers

Punters

Browns punter Corey Bojorquez’s first punt went a grand total of 12 yards.

Steelers punter Corliss Waitman shanked a 15-yard punt late in the fourth quarter that gave Cleveland life.

Bojorquez had three punts for an average of 30.7 yards.

Waitman just had the one costly 15-yard blunder.

Browns’ third-down efficiency

The Browns went 1-for-10 on third down.

Winston tossed a costly interception on third down with under five minutes remaining in the contest.

Russell Wilson

Wilson suffered his first loss as the Steelers’ starting QB despite producing his fourth straight game with a passer rating above 90 (116.7). The veteran quarterback is now 4-1 as Pittsburgh’s starter. He’s played well enough to keep his job.

This post appeared first on USA TODAY

President-elect Donald Trump tapped former Florida Attorney General Pam Bondi on Thursday to head up the U.S. Department of Justice in his second term—a swift decision but one met with little surprise among many in Trump’s orbit.

That’s because Bondi, 59, has emerged as a close ally of the president-elect in recent years—including defending him in his impeachment proceedings, and more recently, in the run-up to Election Day, where she serves as the co-chair of the Center for Law and Justice at the America First Policy Institute (AFPI) a think tank set up by former Trump staffers.

Like former Florida Rep. Matt Gaetz, who withdrew his name from consideration for attorney general Thursday afternoon, Bondi is from Florida and is considered by many to be a staunch loyalist of the president-elect, dedicated to rooting out what the president-elect has described as the ‘weaponization’ of the Justice Department. 

Beyond that, however, the two appear to have little in common. 

A Florida native, Bondi has spent years as a prosecutor in the Sunshine State—spending 18 as a prosecutor in the Hillsborough County State Attorney’s Office before being elected in 2010 to serve as Florida’s first female attorney general. 

More recently, Bondi has used her perch at AFPI to voice concerns about election security—a major issue that Republicans sought to emphasize as they filed a flurry of re-election lawsuits, mainly in major swing states.

If confirmed, it is likely that Bondi will use her post to implement many of Trump’s tough-on-crime policy proposals, including cracking down on cartels, fentanyl, trafficking and more. 

A website for Trump’s Agenda47 called for policies such as extending the death penalty for human traffickers, ending welfare for migrants living in the U.S. illegally, and cracking down on violent crime in major cities, which Trump has described as having declined into ‘cesspools of bloodshed and crime.’

In the hours after her nomination, however, it remained unclear how—or whether—she planned to implement some of these proposals. 

One member of the Trump transition team pointed Fox News Digital to a widely circulated clip of CNN legal analyst Elie Honig highlighting Bondi’s qualifications for the role.

‘Pam Bondi is, without a question, qualified to be attorney general,’ Honig said in the clip, calling her experience ‘on par with, or better than, most United States attorneys general that we’ve seen over the past 50 years or so.’

‘Even CNN is fawning over her qualifications,’ a source familiar, who declined to be identified, told Fox News Digital.

Those close to Bondi have praised her long record as a prosecutor, and her staunch loyalty to the president-elect, alongside whom she has worked since 2020—first, helping to represent him in his first impeachment trial, and currently in her post at AFPI.

Bondi is ‘all about integrity and the proper application of justice and fairness,’ said Gianno Caldwell, the head of the Caldwell Institute of Public Safety, an organization designed to fight violent crime. Bondi serves on the advisory board of that group.

‘I think she’s going to be able to root out a lot of the bad apples,’ Caldwell added. ‘And return the Justice Department to its traditional focus, which is law and order, and fighting crime.’

 

Like other top contenders for the role. Bondi has not been shy in going after Trump critics, including special counsel Jack Smith, who was tapped by Attorney General Merrick Garland in 2022 to investigate both an alleged effort by Trump and his allies to overturn the results of the 2020 election, and Trump’s keeping of allegedly classified documents at his Mar-a-Lago residence in Florida. 

Smith appears to be winding down his investigation—a welcome relief for the president-elect, who had vowed as a candidate to fire him ‘within two seconds’ after taking office. 

Still, Bondi has shared in Trump’s criticisms, using a recent radio interview to describe Smith and his team of prosecutors as ‘horrible’ people trying to make a name for themselves by ‘going after Donald Trump and weaponizing our legal system.’

‘Attorney General nominee Bondi is looking forward to the confirmation process and answering any questions senators might have,’ said Alex Pfeiffer, a spokesman for the Trump transition team.

Bondi’s life ‘has been dedicated to keeping Americans safe,’ he added. ‘She looks forward to continuing that work at the Department of Justice.’ 

This post appeared first on FOX NEWS

John and Jim Harbaugh are competitors by nature. The two wrestled each other as kids. So on the gridiron, it’s not lost on Los Angeles Chargers players that Jim is 0-2 in his NFL career coaching against his older brother.

Jim has another opportunity to get in the victory column against John on Monday night when the Chargers host the Baltimore Ravens in a matchup that’s dubbed the “Harbaugh Bowl.”

“We know how important this is for him. I imagine if I were to play one of my brothers, it’d be a really cool opportunity,” Chargers quarterback Justin Herbert said. “I can only imagine, you know, how big this is to him and his family. I think it’s another very important game for us. You know, we’ve got a really good opponent coming here on Monday. But… Coach Harbaugh, it’s a special moment for him.”

The “Harbaugh Bowl” will also feature some interesting subplots. It will be a reunion of sorts for several members of the Chargers organization. L.A. general manager Joe Hortiz served 26 seasons in Baltimore’s front office and five Chargers coaches spent time on the Ravens staff during their coaching careers.

Jim even played for the Ravens in 1998.

NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.

“Coach Jim Harbaugh, he’s a magical guy. He’s different, he’s unique,” Dobbins said. “I love him and it’s great to play for both of the guys, both John and Jim.”

Jim admitted initially the Super Bowl 47 loss was difficult, but the sting of the defeat wore off over time, especially because his brother was triumphant.

“It was tough. But after some time and reflection went by, it’s my brother, my best friend, really proud of him (and) really happy for his success,” Jim said. “I mean, it was earned. We played really good, but yeah, sometime after that was my perspective.”

Monday’s third edition of the “Harbaugh Bowl” will be special for the family for a multitude of reasons. It’s the brothers’ third-ever matchup, it takes place during the Thanksgiving holiday week and it just so happens to fall on their parents’, Jack and Jackie’s, Nov. 25 wedding anniversary.

Jack and Jackie won’t be in attendance on Monday night. They will be in Bradenton, Florida with their daughter. However, they will certainly be watching.

Just like Super Bowl 47, Monday night’s game or outcome won’t impact John and Jim’s relationship. The two brothers talk or text weekly. Jim describes John as his best friend.

“Nobody could have a better brother. I may be biased in that way, but I really love my brother, best friends, proud of him,” Jim said of John. “He puts God first, he’s a great example setter, he’s a great son, he’s a great husband, he’s a great father and great brother. And he’s great at what he does. One of the most, if not the most competitive people that I know. I learned so much from and admire him.

“His competitiveness (and) his toughness. It’s always in his teams where he just makes it, pulls it out of you. Iron sharpens iron, as the Bible would say. That’s resonates.”

The Harbaughs like to use the phrase: “Who’s got it better than us?”

We’ll find out on Monday night which brother has a better kickoff to Thanksgiving week.

‘I like prime time, I always thought that, you know. It’s like – tonight’s gonna be a good night as The Black Eyed Peas kind of feel,” Jim, referencing the musical group’s hit song, said about Monday’s game. “Got my friends with me, and we’re going to go out and let’s make it a great night.”

I got a feeling the “Harbaugh Bowl” Part III will be a special night for the entire Harbaugh family.

This post appeared first on USA TODAY