Home > Market Set Up > Holiday Over Yet? $$

Holiday Over Yet? $$

After a long holiday weekend, it felt that that some traders decided to extend their weekend. Volume on the NYSE was 1.4 billion shares and Nasdaq was 2 billion, both well below last years’ daily average volume.

The market opened weak with the S&P dipping below the 200ma, the market found a bit of a bounce after the ISM numbers came in a bit better than expected. American Express led the financials higher and ultimately the market. As active traders, we recognized that the volume was light and that are trade expectations were less than usual. The shorts worked early this morning, while the afternoon was a gyration back and forth until some late day buying pressure came into the market, (most likely short covering). We made some money today playing both sides of the market. Hopefully tomorrow will provide more volume and better opportunities. As we always say, you must take what the market gives you.

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