Today looked to be the start of a pullback; however, the markets regained their losses, closing slightly higher on the session. We anticipate that the markets will continue moving sideways going into the holiday, with just 1.5 trading days left this week. All three majors are still below previous support levels, but back inside their ranges.
We will see a decent amount of economic news tomorrow, including jobless claims and durable goods orders. Reports like these can always have an impact on the markets, based on the severity of the results. However, given the holiday just around the corner, any reaction should be temporary at best. Expect this range to tighten a little over the next couple of days. We don't anticipate too many opportunities until early next week.
Have a great night,
Maverick Trading
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