Zzz... zzzz... zz... huh? Oh, sorry - I guess I must have dozed off after watching today's lethargic trading, where fewer than 77 million shares traded hands today, leaving us with another mixed market, the Dow losing all of 18 and the S&P and Nasdaq just barely positive. Whether it was the mega-snow storm or the usual inter-holiday slump, today was a real snoozer. Not much to say about it.
I don't particularly like the shape of today's candle, being a Hanging Man, but with such light volume, it's difficult to draw any conclusions about anything right about now. This candle also brings us under the RTC lower edge, which is a bearish setup. But again, I think we're more just drifting along so I can't read too much into it. So I'm still just standing on the sidelines and counting down to New Year's. No trades today.
Here's a story from the Seeking Alpha web site today that's worth a read:
Short summary: the author expects a market downturn in the near future on contrarian grounds, citing growing bullish sentiment. I suppose that's possible, but I generally try to refrain from looking more than a week ahead. And I don't see a crash coming this week.