Hello everyone, hope you had a good Thanksgiving. 

Well...I'm sorry to be the bearer of bad news but at this moment (11 pm EST) ES S&P 500 futures are down 53 points, and Dow futures are down 450 points. 

Here's a link to a post I made on the Trading Community Blog

Currently the sell off is being blamed on a new Covid varriant from South Africa. That said this is not surprising: what I've observed over the yeas is that when the market is already vulnerable from a technical standpoint, it looks for a reason to sell. Let's face it, the historic negative breadth charts that Steve and I have been discussing for over a week (see the attached charts), showed that the market was in a vulnerable technical state, and thus susceptible to strong moves lower if the right news item (excuse) occurs. 

It's possible that futures may recover some before the opening bell on Friday, but for now they are strongly negative, and have erased all of this week's gains. Remember what I said early in the week about not automatically assuming the market will close up for the week just because it's Thanksgiving week. 

see you in the morning - also the cash market only trades 1/2 day on Friday

Matt