The eventMovingSkipNonBusiness property affects the drag and drop behavior over the non-business time segments. The mechanism is explained in the JavaScript Scheduler: Skip Non-Business Cells during Drag and Drop tutorial.
To hide the holidays from the timeline, you can use the onIncludeTimeCell event handler.
If you want to highlight the part of an event that falls on holidays, you can use active areas to insert a special section into events, just like when defining event phases.