Dow, daily
Sp'daily5
Trans
Summary
So we had a pause day, and tomorrow is the lead into thanksgiving. The general near term trend is most certainly still UP.
Take a look at the daily MACD (blue bar histogram) cycle, we are only day'2 UP in this cycle, and we could easily see another 3-5 ticks to the upside. Best guess, I'd be looking for the cycle to level out at the end of next week.
Wednesday - dull ?
It will probably be a very quiet day, near zero volume, and thus the algo-bots will get the opportunity to melt this market higher, into the 1390/95 zone. That would set up a gap straight into the 1400/10 zone this Friday morning.
If the clown networks can somehow spin the 'black Friday' retail sales as super bullish, we certainly could end the week in the low 1400s. I can only imagine the bullish hysteria at that point.
A little more later.