Friday Outlook: Out of Options?

Day after day investors continue to look for excuses to bottom pick financials and pick tops in energy and commodity markets. With some spectacular short-term exceptions, most have failed. Someday these players will be proven right but for now it’s all just pure speculation and a game for institutions only.

Volume was heavy but breadth was mixed. Note the heavy upside volume in the NASDAQ while the A/D line was unremarkable. This reflects the heavy focus on big tech names and can be attributed to impending quad witching on Friday.


















Let’s look at the “Four Horsemen” which were the previous market leaders and still enjoy most of the attention.


















A nice young woman approached me at the TradersExpo here in Ontario, CA and wanted to know who Chucky was that I keep referring to and I replied, “Well, that’s Chucky from the movies you know. The character you can’t kill. I use him as a metaphor for the American consumer who keeps shopping, etc.” And she replies, “Well, that’s such a guy thing!” I don’t know about that since I’ve never watched a Chucky movie. But, I guess I need some sort of slang glossary since another readers asked me last week what a “stick save” was.















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