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Assessment: The boring market environment continues. I would love to buy, but we are at an all-time high area, there’s nothing I will ever buy at an all-time high. I will wait for a material sell-off and get in. We really did not get any material sell-offs in 2024. Perhaps 2025 will be more interesting. When something is at an all-time high, the only strategy I am interested in is selling…because as is the case now…we are overbought and usually some pressure needs to be relieved…but we don’t really sell in the markets anymore. So, pretty boring!
SPY Chart: https://sblk.io/s/dm0lf7ibIqC0hqr
I don’t expect much more for Thanksgiving week as traders headed for the exists on Wednesday this past week and won’t return until after next weekend. We’ll see…who knows, maybe we get some action. If I don’t talk to you here before then…have a WONDERFUL and HAPPY THANKSGIVING!!
Good luck in your trades!