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When the Cat Is Away The Mice Will Play

This morning, all of the major stock indexes are trading higher. The S&P 500 Index e-mini futures (ES Z1) are rallying higher by 11.75 points to 1249.25 per contract. The catalyst for the move higher in the market is once again a weaker U.S. Dollar Index. When the dollar declines the stock markets inflate and vice versa. Today is also a holiday in the United States and Canada, therefore, the trading volume is expected to be very light. Light volume will generally favor the upside. Traders should also know that the bond market is closed today. Rarely does the stock market sell off or decline sharply when the bond market is closed, hence the saying, when the cat is away the mice will play. Traders should expect a positive day with the markets trading sideways until the final thirty minutes of trading session when the markets notoriously rally into the close. We shall see.   ...See full video here