This Trading Session Will Be A Turkey

Gobble... gobble.

PRE-OPEN MARKET COMMENTS - WEDNESDAY. It's the day before Thanksgiving. We have a flat open and we are sitting at the all-time high. Economic numbers were a non-event and this was the second look at GDP and PCE. Both were in line and initial jobless claims were low (213K). Global markets were down slightly and China was higher. Look for a bid check. The smaller the pullback, the greater the odds that we try to grind through the all-time high. I would favor the long side, but know that this is going to be an LPTE. I doubt there will be enough fire power to get through resistance, but they are bound to try. Friday we might have a chance to move higher. Black Friday sales will be the supposed "catalyst", but don't believe it. The path of least resistance is higher and it's as simple as that. If I recall correctly, what ever happens Friday reverses Monday. 

Daily Bulletin Continues...