Stocks Bounce Off Support: Dave's Daily

Options expiration can create some weird action. Perhaps today was no different. We sold off hard early but when volume dried up around noon Da Boyz went to work.

After a week like this, I'm as tired as markets and it shows in the skimpy level of charts.

Bulls don't have much to look forward to now earnings are about over. Perhaps they'll feast on better economic data like if Jobless Claims next week fall from 500K to 490K--silly right? Bulls still have the Fed at their back with zero interest rates and POMO with the next on intervention on the 24^th.

Have a great weekend everyone!

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The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell any security.  Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period.  Chart annotations aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com.

 

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