This is the lite version of the outlook for this Thanksgiving Holiday week. My next outlook will come out a week from today, reminding you that I am taking some time off for the holidays.

We finished the week ending November 20th on somewhat of a sour note, though it would be ungrateful to complain about the near-vertical rally off the October 30th, 40-week cycle low. The four-day markdown we just experienced is likely the first resetting of the 20-day cycle.

Let’s see whether the market confirms the low with follow-through from the pivot this week. Light volume and positively biased trading typically precedes the Thanksgiving holiday.

In last night’s (Sunday) Globex session, the Asians were selling, and the Europeans were buying. Europe gained on another successful vaccine announcement, this time from Astra Zeneca and Oxford University.

The newest vaccine might not be quite as effective as the first two announced by Pfizer and Moderna but requires mere refrigeration rather than dry ice to ship. Europe’s positive bias is driving a higher gap opening in New York this morning.

We now have three successful vaccines announced before year-end, just as promised by the current administration and Operation Warp Speed. Yet, we are back to lockdowns portending a potential GDP dip in the first quarter. Are the politicians simply drunk on power? Rules for thee but not for me? You decide.

Meanwhile, I am working on a piece that I will publish by the end of this week, tying together the 80-year stock market cycle, Kondratieff Wave, Fourth Turning, and the Great Reset announced by the World Economic Forum in Davos. These are the themes that will drive 2021 – and we had better be prepared.

Some in my close circles think that the Great Reset is fringe stuff – perhaps not worthy of these pages. Yet, I have the unfortunate duty of staying almost pathologically well-informed. Many on the left and in the mainstream Democrat party have embraced the Great Reset (John Kerry as one example), as have many global leaders ( Canada’s Justin Trudeau as another example).

The new piece will illustrate how this “Great Reset” move to a “One World Order” will surrender U.S. sovereignty and embrace collectivism. More importantly, the move fits with the Fourth Turning predictions.

Sometimes there are decades where nothing happens, and then there are months where decades happen. We are closer to the latter than the former, which is characteristic of a Fourth Turning.

Meanwhile, enjoy the holidays. My understanding is that there is a gathering exception here in Colorado for funerals. So many here are having funerals for their turkeys.

As vegetarians, my wife and I are looking for an exception. Let me know if you think of one.