The markets nature, a very slow steady uptrend, will probably not move out of that mode on the day before Thanksgiving. The market will be open on Friday for one half of a day. More than likely no major change of investor sentiment is going to occur either today or on Friday. Stay predominately long, especially in the biotech area. However, continue to have a short or two in the portfolio.
The Dow and the S&P 500 have pullback today to the T-line area. The NASDAQ has gap down from a Doji and currently trading below the T-line. A close below the T-line in the NASDAQ would diminish any upside prospects and would at best indicate a sideways wedge formation was in progress. That same prognosis would imply to the Dow and the S&P 500 if they close below the T-line today. The wedge formation would indicate a lack of direction in the markets going into the end of the year. Continue to have long and short positions in the portfolio.