Ho ho ho – what a joke the market is!
As noted by Dave Fry, the volume was heavy but the big volume came on the red bars into the close, that dropped the S&P from it's low-volume 1% move up to finish the day back to just over flat – as if none of it ever happened. On even thinner volume, the Futures have already pumped us back to Friday's highs.
Even for the week, all we did waas pump back to 2,070, still off the 2,075 high we first hit near the end of November and now December is ending and we're struggling to hold that all-time high zone, so we can close out the year with a nice win for the Fund Managers to print up in their 2015 brochures – to show you how clever they were in 2014.
Now we're into the very thin holiday trading period and you certainly can't trust anything you see on a chart this time of year so the best thing to do it not play.
It's Christmas, for God's sake – go spend time with your family, visit friends, enjoy the season – the market will still be here when you get back!
IN PROGRESS
