There’s your text book pause day. Volume will drop off tomorrow and during the shortened session on Friday and this should favor the upside. Last year the markets came down pretty hard during this same week but now the markets seem to be trying to build a foundation from which to rally. If the markets do move up during the next two sessions, I hope we don’t get some kind of mega rally or just go parabolic. That would be good for a few days but could easily collapse. In a perfect world, the markets will move incrementally up or down or perhaps sideways until everyone gets back next Monday. If the market wants to rally Monday on good volume, I’m all for it. I just don’t want to get faked out this week and see everything blow up next week when the pro’s get back in front of their screens.
I don’t think the market is going to release much more information in the remaining hours of trading this week and with that in mind I probably won’t post anything else until the weekend. Caveat would be a mega up day or a mega down day.
Enjoy the Thanksgiving break.
GL and be careful.