Equity markets in a sleepy trading range today. Watch for break-outs above 2068 or below 2064. Expect continued slowness into the Thanksgiving holiday
Treasury markets are also moving sideways
Take a look at Friday’s movement for comparison, which saw a whip-saw in the e-mini S&P 500 futures. The markets took a sharp move higher after the PBOC unexpectedly anounced rate cuts, then gave back most of the gains over the course of the day.