The market started the new month of December with a day of trading similar to the earlier type of method that began the rally months ago, namely of the large technology stocks leading the way as the broader market lagged to a certain extent.

The month of November ended on Friday during the holiday-shortened Thanksgiving time period with a strong gain as the Dow gained 188 points to 44,910 led by advances in BA, SHW, GS and HON. It was the 47th record high close for this index.

In another astounding upside day, the Dow turned a 310 point morning loss into a closing gain of 123 to its best ever close at 44,860. It was finally led in this process by the old-time large technology stocks which have not done so great lately, bur finally caught the wind at their backs for a change, and this included AMZN, MSFT, AAPL plus CRM.

Stocks rose again on Monday, and were led by those that can benefit from the most from lower interest rates and a stronger economy leading the way.

After a huge runup in the days following the election, things came crashing down on Friday for the worst week since September and the fourth day in a row lower for the Nasdaq.

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The market did poorly yesterday, which continues the recent pattern of equities showing some resistance after their recent tremendous move higher, especially after the recent election.

The market ended yesterday in a mixed fashion, with the S&P once again failing around the 6015 while the Dow ended higher and the Nasdaq ended lower.

After five straight huge upside sessions, the market cooled off yesterday as the VIX got to a low level and the resistance over 6,000 in the S&P made itself known for the time being.

Once again, the major indices rose to start the new week, with the Dow, S&P and Nasdaq attaining their best ever levels, as the leaders once again were those that are seen as benefiting the most from the new President’s agenda, but drops for some high-profile Big Tech stocks kept indexes in check.

The market ended the best week in a year last Friday as the upside momentum created after the election continued for another day.

Once again, this upside rally continued for the third day yesterday with the S&P and Nasdaq achieving further new record highs once again.

In a stunning upside follow-through to Tuesday’s huge upside move, the Dow, S&P and Nasdaq all pushed to new all-time highs yesterday, as various parts of the market reacted to the final election results from the day before.

Finally, the market opened higher yesterday and was able to go the distance and ended on a very high note on the day of the election. Usually the market tended to come lower after a start of this type, so I assume that it anticipated what would happen today.

The nearly unanimous expectation is for the Federal Reserve to cut its main interest rate by a quarter of a percentage point on Thursday. But the weaker-than-expected jobs report wiped out the slim chance traders had been seeing of the Fed holding rates steady, according to data from CME Group.

The Fed began its rate-cutting program in September with a larger-than-usual cut of half a percentage point, as it turns more attention to keeping the job market solid instead of focusing on just driving inflation lower.

In another mixed day for the markets, there were all kinds of discrepancies with the Dow ending lower by 154 points to 42,233 as CAT, CVX, HD, JPM, TRV, and UNH all went lower while the S&P ended 9 points higher to 5833 even though the majority of stocks in this index were negative. This pattern was something we had seen earlier this year as strong gains by major technology stocks overwhelmed the others. This was most noticeable in the Nasdaq which ended higher by 145 to 18,712 at a record as gains in META, MSFT, AVGO, NFLX, AMZN plus others all did well.

The S&P finished 15 points higher to 5823 but it also gave back a good part of its gains as those financials plus some large technology stocks led the way. The Nasdaq ended 48 points higher to 18,567 but the NDX, which is influenced by the large tech issues, actually ended slightly lower as MSFT, MVDA, NFLX and TSLA sold off, and the last one was interesting because it failed once again over 270 after Friday’s options-related ending and now has more to go to attain better prices than this level.

The Russell 2000 Index of small stocks did well on strength in some regional banks to end with a 36 point gain to2244 while the VIX dropped once again to 19.8 as it continues to disappoint the bullish participants here as a large skid in oil-and-gas stocks after the price of crude had its biggest drop in more than a year.

The market ended widely mixed on Friday after the Dow got hit for a 260 point decline down to 42,114 and this was due to selling in GS, HD, IBM again, MCD and TRV while the S&P turned a 50 point early gain into a nominal closing loss of 2 points to 5808 mainly due to weakness in the large financials mentioned above.

In the process, both indices gave up on their six straight weekly advances, while the Nasdaq took over the leadership with a 103 point gain to 18,518 for its seventh straight weekly gain led by good gains in the larger technology issues ahead of a large number of major stocks in this area this coming week (see list below).

The market ended in a mixed finish yesterday as the Dow went lower because of negative results from a few components while the Nasdaq did well mainly on the best showing for beaten-down TSLA in 11 years.

The former drifted to a 140 point lower close to 42,374, its fourth straight decline this week primarily due to high-flying IBM getting taken down for its worst one-day showing in six months after a weak earnings report, in addition to selling in HON and always volatile UNH.

The S&P gained 12 points to 5810 as it got help from TSLA, in addition to AMZN, NVDA, META and the large financial components. The Nasdaq did the best of all with a 139 point advance to 18,415 due to that tremendous upside explosion in beaten-down TSLA, in addition to some other technology leaders. Their optimistic CEO also predicted 20% to 30% sales growth next year, though its revenue for the latest quarter fell short of analysts’ forecasts.

This resulted in its break of a three-day losing streak since early September as it bounced between losses and gains through the day, and it was roughly evenly split between stocks rising and falling.

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Momentum has reversed for stocks this week as pressure has increased from rising Treasury yields. Higher yields can make investors less willing to pay high prices for stocks, which critics say already look too expensive after they rose faster than corporate profits.

Dow component MCD helped pull the market lower and dropped 5% after federal health officials linked its Quarter Pounder burgers with an E. coli outbreak that has affected at least 49 people in 10 states. Investigators are still trying to find what specific ingredient is contaminated, and the Centers for Disease Control and Prevention said the company stopped using fresh slivered onions and quarter pound beef patties in several states while the investigation is ongoing. E. coli food poisoning linked to their Quarter Pounder hamburgers has sickened at least 49 people in 10 states, including one person who died and 10 who were hospitalized, federal health officials said.