This week is always a quiet week for me ahead of Thanksgiving weekend. I don’t take any new stock positions on. I just manage the trades I already have open. When markets come back from the long weekend you can get a nice rally into Christmas. This late in the market cycle however, it could be a bit soft. I am still expecting a shakeout in the large cap tech names.
FANG v NDX (left) is still over bought. FANMAG’s (right) flat to slight downside.
XLK daily. Tech sector daily is in consolidation