Look To NASDAQ, NASDAQ 100 To Be Today's Primary Chargers
Declan Fallon | Nov 24, 2017 12:07AM ET
Thanksgiving Wednesday was never going to generate an exciting day but it was good to see early week gains retained. Upcoming Thanksgiving Friday is typically a day when Junior traders go wild and decent gains are posted - even if trading volume is light. With last week's lead action I wouldn't be surprised if this pattern was to repeat.
Tech Indices have been leading the charge in recent days and I would look to the NASDAQ and NASDAQ 100 to be the primary chargers on Friday. Technicals are firmly in the green.
The NASDAQ 100 is a little weaker technically with the MACD trigger 'sell' still in play but given it's on the verge of a new 'buy' trigger it's still an attractive trading opportunity.
The S&P posted minor losses but is knocking on the door of new highs. It's still a few days from a new MACD trigger 'buy' but should this occur then look for a new wave of buying.
The Russell 2000 has enjoyed a very strong run of form but it may be a little stretched to keep this going on into Friday. Technicals are all net green so should this ease back into next week I would look at it as a buying opportunity - a retest of the 50-day MA would be ideal in this regard.
Friday could be short-but-sweet day of low volume buying. A feel-good Turkey blitz should be the order of the day given prior bullish action.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.