09:20am (CET)  ~  There will be no trading for me today as the U.S. markets are closed for their Thanksgiving holiday so there will be a distinct lack of volume on the S&P futures, one of my favourite instruments to trade. There is only limited opening of the U.S. stock exchange tomorrow so I’ll not be in front of my charts now until the new month starts next week.

As the U.S. markets are closed today, the European markets are likely to be fairly subdued and expected to open mixed this morning, with the Dax 30 in particular expected to open higher as positive consumer confidence gives a boost to the market plus German politicians have finally agreed a deal for a grand coalition that should see a government in place by Christmas.

Asia markets have had a fairly positive session overnight, reacting to a positive US session with the Nikkei closing in on its highest levels since May this year as markets continue to respond well to Japanese economic data. Over in the UK, the London FTSE 100 generally takes it’s lead from Wall Street we may see subdued trading for the next few days although the overall outlook still remains bullish with relatively low unemployment and fairly good GDP figures expected.

WTI Crude prices took another drop yesterday after it was revealed that stockpiles have grown more than expected, they are now sitting at 391 million barrels, an increase of 3 million over last week.