SPY/QQQ Plan Your Trade For 11-26 : Inside-Breakaway

26 Nov

As we move closer to the Thanksgiving holiday, I want to remind traders that low liquidity is likely to drive extreme price swings throughout the markets this week and next.

Many traders are already "taking a break" from the markets right now - so please trade with CAUTION. Trade smaller positions and don't get trapped in anything you can't handle.

The markets will close on Thursday and have a half day on Friday. That means we are going to go about 3.5 days with no trading into early next week. Are you ready for that?

If not, get into a position where you can settle in through the holidays and relax. Come back to the markets on Monday/Tuesday next week.

I expect the SPY/QQQ to attempt to reject near the recent highs (yesterday) and for Gold and Silver to move into a bullish recovery phase after yesterday's selling pressure.

The one thing I would warn trades about today is the potential for a low-liquidity BREAKDOWN in price for the SPY/QQQ as well as Gold & Silver.

If there is some financial (US Treasuries) or breakdown event that prompts the markets into some type of Flash Crash - everything will go down.

I'm not saying this IS going to happen - but it COULD happen.

So, be prepared just in case.

Bitcoin is struggling to find any support throughout this downtrend. I suspect the $72-77k level may be the final support for BTCUSD.

Buckle up. We could be in for a wild ride.

Get some.

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