Markets to Open Flat, Volumes Low

Thursday is the US Thanksgiving Holiday, so Happy Thanksgiving to any of our US readers!.  Since the markets have run up prior to the holiday, it would not be unexpected for them to sell-off after.  Therefore, it may be prudent to close out any open positions and be prepared to enjoy the weekend.

Futures this morning are positive along with the DAX, indicating a positive open.  The market condition scans are showing a slight bias to the upside and the market bias indicators are not showing any strong directional bias.  Therefore, this suggests a choppy market again, with weak follow through.

Earnings this morning are also mixed, so no strong catalyst for upward momentum here either.

The markets continue to react the falling US Dollar, which has been moving exactly opposite to the TSX.

Index	Change	%Change	Level	Phase
TSX	-84.39	-0.73%	11539.63	Bullish
DJIA	-17.24	-0.16%	10433.71	Bullish
Nasdaq	-6.83	-0.31%	2169.18	Bullish
SP 500	-0.59	-0.05%	1105.65	Bullish
Russell 2000	-2.23	-0.37%	592.58	Warning
NYSE	-16.07	-0.22%	7170.26	Bullish

Source: Telechart

Short Term market outlook:

Bias: Scans showing a neutral bias

Energy: weak

Primary Trend: sideways to down

Market: Trading Range

Sector	Phase
Consumer Staples	Bullish
Healthcare	Warning
Technology	Bullish
Utilities	Warning
Energy	Bullish
Financials	Warning
Industrials	Bullish
Materials	Bullish
Consumer Discretionary	Bullish

Source: Telechart