- Another flat day. Market has basically gone sideways for the past 3 weeks. And out of sideways, it's up or down. You just never know which way and there are too many big news items coming that could make it a messy breakout with whips...up or down.
- GDP Friday...POMO Monday...Election Tuesday...Federal Reserve announcement Wednesday...POMO Thursday...Employment Report Friday.
- Da Boyz will use each of those items to move the market.
- It's been a tough market and I've been trading it very lightly due to all the unusual action during the day. I suspect that continues for awhile longer until some more normal flow returns. The government has successfully distorted the markets with its activities and yet the economy / employment is seeing little benefit.
- Internals have been deteriorating, sentiment is too bullish (chart below) and insiders are selling stocks at levels not seen since 2000. I expect a correction is overdue and some downside is in store. The question is how much and from here or after another push up? Don't know.
- Question in my mind is that folks are conditioned to buy dips...is that a setup so that Da Boyz can sell into multiple small rallies?
- What a chess game! Always interesting trying to anticipate the next move.
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