Today marks the start of a shortened Thanksgiving trading week, with U.S. markets open for a full session on Monday but closing early at 1 p.m. ET on Friday (November 28) and fully closed on Thursday (November 27). After a volatile week that saw major indices post weekly losses—driven by concerns over AI valuations, Fed policy uncertainty, and a broader market correction—the pre-market signals point to a rebound. Futures are pointing higher, the previous decline in the FTSE ended at 9424.
Sentiment has turned bearish, that was expected when the stock market declines. This means the current rebound is counter trend, sentiment has turned down in line with the wave count, the trend is down. In the short term however, the FTSE 100 should rally to complete a second wave.