– Friday bounces from the Thursday pause as market puts in its best week since . . . the last drop.
– Friday move decent, not great.
– Same leaders lead the move as others try to get their act together.
– ECB still talking stimulus, bolstering the dollar.
– Fed calls a Monday expedited, closed meeting.
– Thanksgiving week usually upside.
– The big market picture as the yearend approaches.
From boring to soaring? Not quite, and not a grand close for the week. All things considered, however, including the geopolitical madhouse backdrop, Friday was damn solid enough. Indeed, the on/off, on/off, then on action for the week was the playbook of a market resurrecting a yearend move. After two weeks of downside where it looked as if the rally off the August/September SP500 double bottom was over, the surge and pause, surge and pause action found some older leadership, and it looks possible that market gains will be home for Christmas. Or, at least get us over the river and through the wood to grandmother’s house next week….Read More