This looks to be another sleepy Friday. The bears usually only have about a 2 hour time window to operate on Fridays. If they can't get any momentum to the downside in the first 2 hours, usually it is a flat or up day. You don't often see Friday afternoon reversals to the downside. So odds are the drop will have to wait at least another day.
whats the word dawg? do i get out of this tza or double down on this bitch. this feels like last march and april when we used to go up a few points every day.
ReplyDeleteI think we top out on Monday. We probably squeeze a few points higher but from then on watch out for the fall.
ReplyDeleteEmerging markets typically rise or fall first, and EEM looks like it has a top. My favorite etf EWZ (Brazil) is selling off fiercely.
ReplyDeleteSince the market today is a rigged game, I find it unlikely we correct until after the holidays. Optimism around a seasonally steady market in Dec goes hand it hand with seasonal retail. The system is pumped up and it's not a coincidence, IMO.
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