This week has been a perfect week for whoever chose to sun themselves. The SP500 has done absolutely nothing.
We're grinding in a range. As we grind, the Ball Underwater metaphor applies. The next move is going to be at least 2%. Up or down, I have no idea. Monday is month end, and while it’s unlikely on this Monday, come Q4 “Merger Monday” will be back. Things to think about as you stir that drink thinking what are these guys doing in the office as it’s raining in New Haven.
Immediate term TRADE resistance is 1047 (dotted red line). Immediate term TRADE support is now 1017 (dotted green).
Have a great weekend,
Keith R. McCullough
Chief Executive Officer