The Dow traded in a very narrow 37-point range until a closing dip raised that to 45 points. That was the narrowest range in 4 years. The reason was no volume. Even the sellers have closed up shop for the week.
There could always be a random program trade or somebody pulling the rip cord because of an internal headline but without some external force the market should remain dormant for the rest of the week.
As traders we should also remain dormant. There is no fundamental reason to try and force a new play when volume is only going to decline even further. Today's volume was 4.78 billion shares and tomorrow may be around 4.0 billion. Friday will be even less.
Tuesday is now my bet for Dow 20K.
This is not a trading newsletter. There is nothing I can recommend today that we buy for a potential 3-4 day gain and then exit. The odds of a gain the rest of the week are now a tossup. We should not trade unless there is a better chance of a longer-term move. Be patient. There is a buying opportunity ahead.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays