Happy Labor Day everyone! I come bearing good news on this day of rest—the markets are super okay with these high prices.
Also, I just dialed the latest market data into my model and it is neutral. No bias.
Thus, we have no reason to suspect volatility during the upcoming holiday shortened week.
There are two things to be aware of. The first is Wednesday afternoon’s release of the Fed Beige Book. That might matter for like 5 NASDAQ points MAYBE.
The second is the potent compression on the NASDAQ Transportation index. I will treat any substantial break from this range as a bellwether for how the month-long balance in the overall market will resolve:
That’s all folks. Next week looks like a real snooze-fest unless some unknown event occurs.
Exodus members, go check out the 95th Edition of Strategy Session and may the Monday holiday bring refreshing vibes to your work.
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