Friday, December 10, 2010

Friday Slowdown

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.

4 comments:

Anonymous said...

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.

Market Owl said...

I think we top out on Monday. We probably squeeze a few points higher but from then on watch out for the fall.

Petsamo said...

Emerging markets typically rise or fall first, and EEM looks like it has a top. My favorite etf EWZ (Brazil) is selling off fiercely.

Anonymous said...

Since 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.