Buying Continues
Follow buying across the equity index complex this morning in a very quiet trade. Volume is running at about 40% of normal, leaving a rather illiquid trade. Still, one must be impressed with the continuing strength in the indices.
As for the remainder of the session, I would avoid it like the plague. It’s 80 in Chicago, and that means the golf course is beckoning. As I write this, the pit in the SPZ is about 1/3 full. Early weekend.
If one must stay around to trade this, I would expect a pullback to the 1405 area before a rally towards 1420.