It was a pivotal week in the markets—arguably the most significant of the year. After months of anticipation, the decision is in: Donald Trump will serve as our next president. As expected, indexes responded favorably, with the SPY and QQQ ETFs reaching new all-time highs, while the small caps posted their largest weekly gain since the COVID lows. The rally wasn’t limited to equities, either; Bitcoin also soared to a new all-time high, underscoring the broad enthusiasm towards the pending regime change. In other news;
- NVDA Joins Dow Jones 30
- Fed Cuts Rates By 25 BPS
- Anthropic Partners With Palantir, Amazon AWS
- Get The Trump Presidency Playbook
- Free Webinar: Avoiding Post-Election Volatility with CANSLIM
As we approach the year’s end with strong seasonal tailwinds, the indexes appear well-positioned for a sustained rally in the weeks ahead. Let’s dig into the charts and see where prices might be headed.
Weekly Analysis
SPY (SPDR S&P 500)
The SPY ETF has demonstrated notable resilience over the past few months and has now arrived at a critical resistance level: the golden Fibonacci extension derived from this summer’s high-to-low range. Closing at $598.19 (+4.74%), this level could potentially prompt traders to consider reallocating to technology or small caps, both of which have underperformed in comparison to SPY’s recent strength.
QQQ (Invesco QQQ Trust)
Tech bulls celebrated this week as the QQQ ETF finally reached new all-time highs, closing at $514.14 (+5.48%). With a decisive bullish MACD cross signaling momentum and solid support from the 50-day SMA, QQQ may be poised to narrow the gap with SPY’s performance. The 1.618 golden Fibonacci extension from the summer high-to-low sits at $553, suggesting potential upside of approximately 8%.
IWM (iShares Russell 2000)
The IWM ETF emerged as the standout performer this week, with the presidential decision propelling the previously lagging index to impressive gains and its highest single-day volume since February. With the price closing at $238.12 (+8.73%), and a bullish MACD cross confirming, the small caps seem poised to play a little catch-up to their peers, with an initial target at the golden Fibonacci extension from the summer high to low, around $250.
Earnings
Notable Results
QCOM (QUALCOMM)
- EPS: $2.69 vs $2.56 est
- SALES: $10.24B vs $9.91B est
ARM (Arm Holdings)
- EPS: $0.30 vs $0.26 est
- SALES: $844.00M vs $808.37M est
PGR (Progressive Corporation)
- EPS: $3.58 vs $3.66 est
- SALES: $18.30B vs $19.05B est
VRTX (Vertex Pharmaceuticals)
- EPS: $4.38 vs $4.14 est
- SALES: $2.77B vs $2.72B est
PLTR (Palantir)
- EPS: $0.06 vs $0.04 est
- SALES: $725.52M vs $701.13M est
ABNB (Airbnb)
- EPS: $2.13 vs $2.16 est
- SALES: $3.70B vs $3.72B est
GILD (Gilead Science)
- EPS: $2.02 vs $1.55 est
- SALES: $7.54B vs $7.00B est
RACE (Ferrari)
- EPS: €2.08 vs €1.99 est
- SALES: €1.64B vs €1.64B est
MAR (Marriott International)
- EPS: $2.26 vs $2.31 est
- SALES: $6.25B vs $6.27B est
What’s Happening Now
SPY (S&P 500)
The election is over—now what? Historically, post-election years have shown a clear trend: UP. April, May, July, and November typically deliver the strongest average returns, while February, August, and September tend to lag. With Trump back in office, sectors like energy, defense, and financials could see a boost from his pro-business and deregulation policies. Markets are poised for opportunity—if you know where to look.
TSLA (Tesla)
Tesla broke above $300 for the first time in over two years last week, rejoining the trillion-dollar club, fueled by strong seasonality and renewed market optimism. Historically, November has been Tesla’s strongest month, with a 73% win rate and an average return of +11%. The recent post-election rally added even more momentum, as investors anticipate an environment that could support further EV growth and innovation under Trump’s policies.
PLTR (Palantir)
Palantir hit an all-time high of $58.39, surging 40% this month alone after a strong Q3 earnings report. The company posted 30% YoY revenue growth to $725.5 million, with U.S. commercial revenue up 54% and government revenue rising 40%. Amid the rally, CEO Alex Karp has sold over $1.36 billion in the last year, with $650 million coming just last week. His sales are greatly accelerating as the stock continues to climb.
Believe it or not, this is just a fraction of what happened in the markets this week. For a full run down delivered straight to your inbox every weekend, sign up for The Official Trendspider Newsletter!
