No jobs, inflation or GDP reporting. A major recession must be underway. Oracles default risk is now near a 3 year high. Is $SPY forming a head and shoulder pattern?

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GROK:

Based on current charts (as of Nov 24, 2025), SPY shows elements of a potential head and shoulders top: peaks around 675 (head), with shoulders near 654-660. Neckline at ~620. If broken, could target 480s. However, some see an inverse pattern for upside. Patterns are subjective—monitor volume and breaks. Current price: ~660.

Third quarter GDP estimate to be skipped.

The federal government will skip publication of its delayed initial estimate of third-quarter gross domestic product, instead aiming to get back on track with an update that remains to be rescheduled, the Bureau of Economic Analysis said Monday.

STAN WEINSTEIN SEES STOCK MARKET TOP SIGNS

Veteran trader Stan Weinstein warns that the stock market may have peaked. In his weekly Global Trend Alert, he cites several signals:

🔸 The S&P 500’s late-October high (6,920.34 on Oct. 29) was “deceptive,” occurring alongside poor breadth as declining stocks outnumbered advancing ones.

🔸 His S&P and Secondary surveys failed to reach “clearly bullish” levels before the October peak.

🔸 Weekly updates showed more sell than buy recommendations and more unfavorably-rated than favorably-rated sectors.

The S&P 500 is now over 4% below its all-time high and recently had its worst week since early October. With Fed rate-cut expectations shifting and AI stock valuations under scrutiny, Weinstein urges extreme caution, especially during the low-volume Thanksgiving week, when markets can be more volatile.

How Tech broke the job market.