Note: The S/R levels (i.e. likely bank trader order levels) as depicted in their respective timeframes in this and prior articles have not changed, and will probably NEVER change regardless what happens in financial markets. What follows is my own world view, developed from an institutional trading career dating back to 1995.
This Thursday sees US banks closed for the Thanksgiving holiday, and may also mean many US traders will take Friday off as well as they take a longer weekend vacation.
But there will be a few data points that may keep markets interested instead of just looking forward to the long weekend. The chief among these statistics is the US Core PCE Price index which, if you’ll remember, is the Fed’s preferred measure of inflation.
Whether these numbers will be snoozers remain to be seen. In the meantime, here are our S/R levels at the start of this likely shorter trading week.