Welcome back to the market everyone! Apparently the big money folks got back from their 3 week vacations, which is very normal. Once the big money goes away, then the market usually (but NOT always) just drifts sideways and upward through the end of the year.
The way to tell when the big money has come back to the market is with a surge in volume and usually a nice decent-sized candle vs. the candles from the prior 3 weeks. Looking at the chart on SPY below, you'll see all this.
So, yesterday, 1/3/11, we had a spike in volume and a bigger candle - big money is back to work again - WELCOME BACK, LET'S GET TRADING.
No comments:
Post a Comment