NEW YORK (TheStreet) -- The stock market proved yet again that this year it is not for amateurs.
The S&P 500 Series ETF (SPY) volume was once again on the low side with only 84 million shares traded, well below the 119 million share average volume.
As I mentioned in Thursday's article, we may be seeing the start of the market selloff that I have been looking for. According to my own algorithms, the DJIA, the S&P and the Nasdaq were all into overbought territory on Friday when the market was up.
The Russell 2000, however, is the only index that has been trading on its own. It has not been following the other three indices. That raises the question, what indices are correct in this dysfunctional marketplace?
We will know the answer to that question very soon. As a matter of fact. I expect to have that answer early next week. I believe that there is a big down day or two on the horizon.