By Investor’s Yak
Last week’s occurrences:
- Thursday – New high prices achieved by the NASDAQ and Russel 2000 (small caps).
- Friday – Major market prices pulled back on huge volume (i.e. NASDAQ, S&P500, and Dow Jones)
The primary contributor to Friday’s volume was Quadruple Witching (contract expirations). When high volume caused by Witching events occur, it is frequently discounted to maintain a positive market outlook. But be Cautious.
Next week:
- Greece will be in the news affecting the Euro and global reactions until their June 30 deadline to pay down debt, exit the European Union, or other market surprise.
- “Weekly” technical analysis action zone charts shows indices are positioned to go higher in the long term. And end of the month window dressing could add to the move the following week.
Leave a Reply