The NASDAQ is trading positive, the Dow is trading slightly negative, the S&P 500 is trading flat. Demonstrating there is no change of investor sentiment in this current uptrend. Do not expect anything of any great magnitude in today’s trading, probably most of the major traders will be taken off for the holiday by early afternoon. Friday will be a half day. It is not usually worth even paying attention to the market on a Friday/half day after Thanksgiving. However, there is an interesting trading dynamic on that day. Because there are so few people around, any excessive bullish trading in a particular stock will usually get the attention of everybody trading that day, providing an opportunity to trade some big profits in one or two specific stocks. Continue to stay predominantly long, but there are still some good short positions in progress.
Although the markets remain decisively indecisive Tuesday, there has not been any change of investor sentiment. The major indexes are showing very little movement but the transportation index is still relatively positive. As long as this market trades above the T-line, the analysis remains that this market is continuing its uptrend. Continue to maintain long positions and short positions that are confirming their chart patterns.