Despite a number of poor economic reports the markets closed on a new set of highs today on 40% normal volume, fulfilling our day by day forecast for the week.
XIV made a handsome 1.7% gain today following the M3 rankings.
Friday is a shortened trading day and we're not expecting any selling momentum to develop until next week. Keep in mind that Monday will be the first trading day of the month (typically bullish) so we may not see any weakness until Tuesday (otherwise known by long term traders as "Turnaround Tuesday").
We shall see. In the meantime we're tightening our stop on XIV and loosening our belt, preparing for an afternoon nap tomorrow after gorging on turkey, stuffing and other holiday feasting.
Have a great Thanksgiving.