The Hunt for Thanksgiving Oil

Crude oil spiked up this morning after the downing of a Russian warplane near the Turkey-Syria border. 

As we speak, the USO ETF for crude is pulling back in to that $13.25 level we looked at yesterday. If crude is going to put in a low here, once and for all, I suspect converting that level into support headed into tomorrow morning's inventory report is going to be crucial, after it has been resistance of late (USO 30-minute chart, below, indicates as much). 

As for equities, "FANG," or FB AMZN NFLX GOOGL, is coming in a bit today, as are the indices, but clearly the velocity to the downside is not particularly panicky or intense. It is starting to feel like a holiday week, in some respects. 

We covered part of a PCLN short this morning for Members, and are looking at a few fresh setups across all markets. But I do believe after tomorrow morning's deluge of macro data the market will start to feel like a ghost town by noon.