It’s a holiday-shortened trading week for US stocks, with markets closed in observance of the Thanksgiving holiday on Thursday and early closing on Friday. While trading slows down by Wednesday afternoon, historically, plenty of trading opportunities have come up during Thanksgiving week, not least of which have come from retailer stocks as the holiday shopping season kicks off.

In the bigger picture, while global growth data continues to slow, large cap stocks, particularly in the United States, continue to melt higher. From that perspective not much has changed, as I wrote last week: “For the most part, as far as it relates to the large cap US equity indices, this theme of fund manager performance chasing, i.e. buying high in hopes of markets going higher, continues to play out”.

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