Don’t expect much from a three and a half day trading week. Holiday weeks like this traditionally mean lower trading volume – and often higher volatility. Given the most recent few weeks in the market though, sentiment seems to be shifting. The Q4-Santa Claus Rally is in danger of passing us by. Post-Thanksgiving we’re really only talking about four more weeks of trading for the year when you consider window dressing, capital gains reporting, and the other holidays that will keep people home and away from the trading floor. Given the lack of trading momentum headed into this week, this market may not have much left in the tank.
This week should be a decent tell for the remainder of the year. Watch to see if the markets can find support above 2715. Otherwise, this market may find itself on Santa’s naughty list for the rest of the year.
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