Summer Friday

The market looked grim earlier in the week when I wrote No Reason To Buy Is A Reason To Buy. We have come back very strong, as we usually do when the crowd becomes too bearish. We are in a very dangerous economic period but I believe the market has a window to rally into expiration.

Aside from the first hour of trading there has not been much movement today. Today's action is a lot more like a Summer Friday than last week's was. I am signing off for the week. Have a great weekend.

1 comment:

Anonymous said...

Next test. Bulls need the dow to close above 10300. Or at least 10258 for a higher high short term.
And if they happen to close above 10400 we could be headed to 10700-10800 range.

Bears need the opposite. They need 10400 to hold and then make lower lows short term.