You have to love this market.
Let us review.
Europe? What is a "Europe"? Oh, you mean THAT Europe. Ok, guess everything is all right.
China? What is a "China"? Oh, you mean THAT China. Ok, gues everything is all right.
USA? By now, one can see where I am going.
Today is classic 'melt-up'. Low volume Friday getting the late day goose.
Next Friday is Options Expiration for October. Hmmmm. Could there any members of the Trading Elite who could profit from a goose off of 1100 and $75 Light Crude to 1220 and $87?
The fact is that most every stock is a good buy right now. And guess what? Our friends will give us a little scare next week.
The year end is scheduled for a 1285 close.
Well, that is only 60 points from mid October. Hey folks, since we went from 1100 to 1220 in 7 trading sessions and we have approx. 50 until the end of the year, it kind of stands to reason that the Trading Elite need to push us down a little so we can go back up a little.