Just a typical day to torture the Bears and declare another win for the Bulls.  If you saw the Shanghai tape of -3+% day, you’d figure the US markets ES would be down premarket!.   That was the first sign of market just shrugging off things as the ES was pretty tepid.  Other potential poisons were out there as well (home price trends weakened, GDP revisions), but the market just has turkey or is it just Bear meat on it’s mind as a morning sell off was eaten up by the Bulls in a sign of an never ending underlying bid on any shallow pullback.   As trading desks empty, fast money traders lead the market to potential new closing highs on SP this week.   We mentioned a clean breakout might be difficult this week as you need conviction buyers coming and that would seemingly be hard with lots of big money away.   If a breakout happens, the Bears will say it’s a low volume move, we only wonder if any break happens what will ‘holiday’ talk consist of at the table and all weekend as headlines read market at new highs!.  Will they come off the sidelines come next Monday?.  This is probably looking too far ahead, but new highs are a possibility tomorrow if a surprising (notably Initial Jobs claims / but also Durable goods etc. comes in and if Euro data in morning is welcomed as our late alert indicated.  We also noted AIXG again in the alert and hope it pushes to a new closing high.

AMC, JCG  is getting a pop, our fave consumer/ retail store stock TIF  reports in morning and will probably surprise as it has in recent reports.  This may also help the sentiment overall. 

Happy Thanksgiving to all our members and your families!.   Have a great one!