Will There Be A Post Thanksgiving Sell For SPX? Nov 28th Plan
Note: This is a re-send of tomorrows newsletter (sent during the holiday session Friday) for those who did not receive it.
ES just put in two holiday trading sessions and as is common during holiday sessions - very little happened. In my last newsletter I wrote “Slower holiday sessions likely upcoming barring some heavy news catalyst and I am just holding long”.
A couple key things did happen though. 1) ES spent the past two days consolidating. This means as everyone knows - a move is coming. 2) This years well known Thanksgiving seasonality played out. In my last newsletter I discussed how this Thanksgiving week has been green 75% of the time historically, and green it was. While I never trade based on seasonality purely, this again shows the power it has to provide a directional lean during certain phases.
Unfortunately though for bulls, seasonality also suggests a “hangover effect” the week after. In today’s newsletter, I’ll be talking about that, the pattern forming, and the actionable plan for Monday