This week is Thanksgiving in the US on Thursday and it is, therefore, a shortened trading week as markets are closed on Thursday and have shortened trading hours on Friday. Volume is usually light throughout the week.
The stock markets remain in long-term uptrends. The path of least resistance remains higher and US markets remain above support.
The nikkei 225 was the weakest of the indices we trade, and broke through support on Thursday, bringing the uptrend to an end for now. However, a breakout to new highs for the year is within range.
The long-term trend for metals remains up, except for Copper which is still in a long-term downtrend. Palladium is within range of new all-time highs. Gold and Silver are holding above medium-term support.
The energy markets were higher this week, with Brent Crude currently the strongest market in the sector.
The dollar has advanced against most of the majors this week, and further dollar breakouts are within range during the coming week. The dollar posted its highest close since May this week. The dollar ended the week slightly lower against the Yen, but held above support.
Interest rate futures
Interest rates ended the week slightly higher as stocks saw a bit of weakness. Both stocks and interest rates continue to trade near key levels. For now, the long-term trend is up for both stocks and interest rate futures.