"Best week of the year for the S&P"?
Saw this headline reported by CNBC, and even if that's true, it ain't saying much!
It's the Financial news networks job to pump stocks, and this is just one more, in a long list of meaningless headlines... when you know shorts sellers are lightening up on their positions going into the long holiday week. Even the dopes at CNBC must be smart enough to know that this is exactly what you typically see this time of year, not to mention this Friday was OPEX (options expiration). Remember markets are cyclical.
The reality is that few investors are making money in this market, due to the fact that most stocks are down for the year. Market breadth stinks.
The market bounced back from it's sell-off into the Paris attacks, which we saw coming from a mile away. I thought we might see a bigger event than what we saw in Paris, but I had a sneaking suspicion "something big" was about to take place when I started tweeting that morning. Still it was surreal watching the events in Paris unfold, especially after mentioning WWIII in another tweet - before the market closed.
Wish I had time for a blog update. Something big is about to happen. But maybe it can hold off until Monday
— Anthony Allyn (@3Xtraders) November 13, 2015
The next day the Pope calls this event, "Piecemeal WWIII", but only after someone on FoxNews had already done so. This is the narrative, whether its true or not, or just another event created to destroy America from within, I still can't say for sure, but I think the latter.
Market walked down on a 5 minute chart on Friday the 13th
This was one of the craziest weeks we've seen for a while that's for sure, but not because markets rallied.
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