Happy Thanksgiving

Before we all go and eat turkey, a look a where we stand going into the last few weeks of 2015.

S&P 500, 2 hour bars

S&P 500, 2 hour bars

We’ve bounced back sharply mid-November lows. We’re now pausing at resistance. The onus is on the bulls; seasonally, we should see a rally into the new year, but with a looming Fed rate hike, strong US dollar, weak inflation and lackluster earnings, there is plenty of room for a retest of the October low before year end.

We’re likely to get a rally, but keep your eye on support and make sure your stops are tight. Happy Thanksgiving!

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