On Friday the S&P 500 spent several hours of the session confined to a three-point trading range. It was up 2.82 points, closed at 1183.08.
The recent trading was directly related to the movement in the dollar. Stocks gained on a weaker dollar, and when the dollar began to firm, stocks turned south. It could be said that each of the major indices reflected an inverse move in the greenback.
Dollar is down 0.61% by this time and S&P 500 future is up 8 points. Guess we have another gap up open tomorrow. I don't think the Fed and traders will let this market down before the election, just enjoy your bull ride and set your stop loss tight.
No comments:
Post a Comment