good morning- today is series s4L and the SPILL is UP in the S&P 500 futures (ESH15:CME). This is another HOLIDAY WEEK and many will opt out for a 4 day weekend.Unlike last week, Wed. will NOT be a stub day and will present a full session to regular closing time.Volume should pick up but still run below normal.
Friday’s insufferable action looked as if we would produce a hen’s tooth loser on the inverted T’s;however, the dump to the last hour 68 % odds low did the trick.
You will probably hear about the JANUARY EFFECT from talking heads this week.There is some slight confusion about this term.The original work dates back to the 1920’s and encompasses the time frame from the last week of Dec. through the first 5 sessions in January.
Many also use the term to describe the whole Month of January.Differentiation is obtained by referring to the whole month aspect as THE JANUARY BAROMETER.
The January Effect simply reveals there is a positive period statistically for the period given.The
latter,The January Barometer, also has a positive statistical skew but more often is referring to an old Street Saw : AS GOES JANUARY SO GOES THE MARKET FOR THE YEAR.
Back to the nano at hand. Read more…
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