Today was typical and expected pre-holiday, very low volume, seasonal action that carries no real meaning moving forward. That means no meaningful analysis can be derived from a day like today. We expected this kind of trading today and we got it.
So let's take a quick look at the charts and see how they stand going into a post-holiday, shortened trading session:
Three buys and one sell. Very small moves today with a positive bias. We are staying near the 6 day EMA, but to me the charts look like they will eventually resolve to the downside before the next meaningful rally.
Two buys and one sell. Again, not much movement.
Here's how our Top 25% were positioned for today's action.
I cannot read anything more into this market based on today's trading. We got our anticipated positive bias trading going into Thanksgiving, and that's about all there is to say about it. I still think NAMO and NYMO look poised for further downside action, but don't expect it until Monday at the earliest. Friday's trading will probably be much like today's, with even lower volume. That's it for today. Have a safe and enjoyable Thanksgiving everyone. See you Friday.
So let's take a quick look at the charts and see how they stand going into a post-holiday, shortened trading session:
Three buys and one sell. Very small moves today with a positive bias. We are staying near the 6 day EMA, but to me the charts look like they will eventually resolve to the downside before the next meaningful rally.
Two buys and one sell. Again, not much movement.
Here's how our Top 25% were positioned for today's action.
I cannot read anything more into this market based on today's trading. We got our anticipated positive bias trading going into Thanksgiving, and that's about all there is to say about it. I still think NAMO and NYMO look poised for further downside action, but don't expect it until Monday at the earliest. Friday's trading will probably be much like today's, with even lower volume. That's it for today. Have a safe and enjoyable Thanksgiving everyone. See you Friday.
