Sunday, November 22, 2009

Choppy up next week...

If this was a super ugly wave 1 down, then next week should be a retrace up to 110.65. I would expect an extremely choppy retrace on light volume for the week. 3.5 trading days next week, I would not expect major moves.
VIX has room to move down a bit more. Looks like an early pop monday.

In conclusion, I expect next week to be very choppy with light volume. I don't expect the fall to happen until next Monday after Thanksgiving. Perhaps from lower than expected Black Friday revenues?
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