The bears spent most of today unraveling what was an otherwise patriotic kickass week for good stocks. Bad stocks, like Ford, not so much. Nevertheless, bears really put a damper on this week’s trade as it’s human nature to give more weight to the most recent past. They tried ending the week with notes of black smoke paired with a bold nutty finish.
It was not to be had.
Late morning dip buyers were made whole by the close of the bell. It was quite splendid to be a spectator today. I was waiting for the late afternoon rally to ensue, hoping they wouldn’t start too soon and blow it before close. Beautiful timing, beautiful execution, brilliant!
Just enough pump occurred this afternoon to keep everyone curious going into next week. Charts could set up well to the long side should we see a higher low met with strong demand. TBD, folks.
Enjoy your weekend. Especially anyone in this maddening heat!