The SPYs are in a short-term downtrend. The index is making lower highs and lower lows. Also note that traders are engaging in heavy end of day selling before the long weekend, indicating there is concern and/or nervousness before the holiday.
The QQQQs are still in a general trading range, looking for somewhere to go.
Again -- I've got a much longer post that I'll put up on Friday morning. Until then, have a good Thanksgiving.
3 comments:
One of the blogs I'm thankful for.
Thanks, Bonddad, for writing this blog. I understand about half of it, but because of that I understand a hell of a lot more than I did before.
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I second Grand Moff's comments, although the percentage I understand is closer to 25%!
And I'll go for 12.5% But that's a LOT.
Happy Thanksgiving future M/M bonddad.
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