FYI: For whatever reason over the years Thanksgiving week tends to be market positive, especially the days bracketing Thursday. While we did see a nice rally Wednesday, the selling Monday and Tuesday did not make for a nice week for the bulls. In fact, this was the worst Thanksgiving week since 2011. For those with shorter term time frames there is no reason not to have a lot of cash raised here as there has been a lot of technical damage, and it’s going to take time to fix it. And now we are starting to see some worrying technical signs for the long term as well. On the news front, nothing new – worries about trade with China, global growth slowing etc were offered as the main culprits.
Oil again had a rough week with Friday’s rout (worst day since 2015) capping off the week. This is now 7 down weeks in a row, and on pace for the worst month in a decade.
Regards,
Ted
https://www.stocktrader.com/2018/11/26/weekly-market-recap-nov-25-2018/
