The Turkey headlines went back in the deli slicer today.
Markets rallied with the $SPY reclaiming $284 for some of the session:
Futures have a great short term set-up. With Fridays action and todays recovery a nice bottoming W has formed as well as a bullish wedge on todays afternoon of consolidation.
The break of current resistance would likely see a move to last Thursdays pre-Turkey rout highs.
Obviously nothing is set in stone. But I think this has a high probability of occurring.
Which means the set-up for the S&P500 is for a possible new record high into weeks end.
The China names have been getting crushed. I covered those briefly last night. $BABA came down right near that $170 level I talked about as support. I may take some calls on a China ADR tomorrow as the selling, especially out of the gate this morning, had a capitulation type feel.
Of course a big overnight move higher in China, and a gap up for the S&P500 would probably see a sharp move in those ADRs early. As such a flattish open would not be a terrible thing.
$GME continues its grind higher. Looking even better for that reversal higher.
and of course $VSI remains a thing of beauty.
and I leave you with that!
Back to the meat market tomorrow.