As noted in the beginning of the week, “…the market is at the mercy of low volume volatility”. At least for one day (Wednesday) this played into the Bull hands as the market focused on…”market will have eco data that could pressure the USD allowing for some upside, plus a historically positive biased day ahead.”. Add geopolitical tensions easing (Korean market recovered / European mtks up .8-1% by US premarket) and the table was already set for a bounce before the ‘good US eco data’. Owing to the holiday spirit and overseas concerns, the market seemingly forgot there was a plethora of important data stuffed into one day. The most important piece was the lowest Initial claims # since July 2008, the next was the “PCE”, which has to shut up all QE2 critics.
In all, nothing to get all excited about as the market remains bound to technical levels with upside curbed by 1200SPX and downside in 1180’s
Demi/ YourPersonalTrader
Black Friday is a Red Friday as Portugal gets juiced
pic>>' Ronaldo'.. for non-football fans..