FOR THURSDAY: (11/30) Month-end profit-taking could hit on Thursday and market volatility is up and bubbles are bursting even with Bitcoin. Still, energy may remain optimistic overnight and could bleed into Thursday if they like progress on the tax bill. We can’t count on bubble bursting energy and even NQ’s free fall today was a technology glitch by Fidelity. The employment report is not until Dec. 8 and somehow we thought it was Friday and now the budget deficit ceiling deadline and employment report bleed into the 8th. Have to think the trade will get nervous after this weekend but we continue to rely on patterns and technicals to keep us of trouble. Very key minimum weekly chart resistance is close at 2640. Near the close, after a full day of debating the GOP tax reform bill, the Senate has now approved a motion to…drum roll please…debate the GOP tax reform bill.

Comments are closed.