MONDAY: Not too much news this week in follow-up to last week’s torrent that did little to alter the landscape. For those calling for an S&P 500 top marked by the Alibaba IPO today begins the countdown that has been nerly two years in the making
TUESDAY: The market did begin the appeasement of those that believed the appearance of Alibaba would mark the top. This morning there appears to be some continuation as we sit less than 0.7% from the market’s high.
WEDNESDAY: Two consecutive triple digit losses barely leaves us 1% below the closing highs. Following the familiar pattern it just looks like we’re due for another bimonthly drop in markets. Hopefully, if that’s the case the pattern continues with the obligatory rebound
THURSDAY: Which market are you going to believe? The one yesterday or the one from earlier in the week? This morning the market itself doesn’t seem to know which way to go. Maybe it just will wait until tomorrow’s GDP
FRIDAY: This will be one good week to see come to its end, especially as nothing of substance has occured to bring about the four preceding days of triple digit moves.
“SNEAK PEEK AT NEXT WEEK” APPEARS ON FRIDAYS