Not so in Asia. ZeroHedge reports, “Global shares hit another record high on Wednesday, propelled higher by what increasingly more call (ir)rational exuberance, and investors’ unflagging enthusiasm for tech stocks. That said, S&P futures are unchanged the morning before Thanksgiving (at least before the market open ramp), as are European stocks (Stoxx 600 is flat), despite the euphoria in the Asian session which saw the MSCI Asia Pac index hit a new all time high...”

VIX futures are flat-to-marginally lower this morning. They plumbed yesterday’s low but did not exceed it.

TNX is also trading in a very narrow range.

USD went lower this morning, but hasn’t broken the 50-day support at 93.42.

USD/JPY, however, is starting to plumb the September lows. It appears that liquidity is drying up, but the markets are too thin to notice.

Regards,

Tony

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As a State Registered Investment Advisor, The Practical Investor (TPI) manages private client investment portfolios using a proprietary investment strategy created by Chief Investment Officer Tony Cherniawski. Throughout 2000-01, when many investors felt the pain of double digit market losses, TPI successfully navigated the choppy investment waters, creating a profit for our private investment clients. With a focus on preserving assets and capitalizing on opportunities, TPI clients benefited greatly from the TPI strategies, allowing them to stay on track with their life goals.

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