Shortened trading day
It is Thanksgiving day celebration in U.S and the trading day is shortened from usual 9 AM to 4 PM becoming 9 AM to 1 PM. Dow Jones Industrial Averages Futures are moving up 51 points before market open which indicates new record high in today trading session.
U.S dollar index is also pulling back today; it is expected as the market pulling out money to spend on Black Friday. Expect little movement today and wait for more trading opportunity next week.
Technical Analysis
Dow Jones Industrial Averages (INDU)
The index expected to move higher today and print new high as the futures is higher. However, there is a possibility the market will hesitant at current height and just stay sideline until next week.
Altria Group (MO)
The price of MO broke down below its SMA 200 and re-test it. If the price failed again near the SMA 200, we could expect MO to continue its bearish trend below the averages. Otherwise, if the price can close above the SMA 200 and move higher than $66.25, then it will stage new bullish leg.
Other Watchlist
MRK – bullish candlestick close above SMA 100, possible continuation.
TAP – bearish candlestick near the SMA 200. Look for more sell-off.