All three majors opened higher today as we came out of the first of two extended holiday weekends. We saw a small surge of buying come into the markets late on Friday's session, which could be the reason that we gapped higher today. However, all three of the majors failed to capitalize on last week's surge.
We still have three (3) more trading days left in the year. However, with another extended holiday weekend just around the corner, we shouldn't put much value in this week's move.
The INDU made another push towards the 20,000 level today and we could see a close above it this week. Without a substantial amount of volume behind a close at that level, we don't want to take the risk of buying in too early.
Be patient and enjoy the holiday season. There haven't been any substantial changes to market sentiment in the last 10 days. With just a few trading days left in the year, we don't expect anything different.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
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