Morning Ideas November 29, 2021

Good morning traders,

I am back and refreshed after about a week away from the screens. Usually thanksgiving week is pretty slow, with an upward skew, but boy that wasn't the case last week.

I don't expect the fear of the new Covid variant to keep the markets down for long, I just think the market had to price-in something that wasn't previously priced in. This is most likely why we got the selloff last week.

It is pretty thick above us, but I would expect the market to eat through a lot of that volume as we try to get back to the "scene of the news crime" which is around 4700.

Full disclosure, I did not create that phrase, that was coined by FuturesTrader71.