Friday uncertain

The Hoot 
Actionable ideas for the busy trader delivered daily right up front

• Friday uncertain....
• ES pivot 2099.33.  Holding above is bullish.
• Next week bias lower technically.
• Monthly outlook: bias higher.
• Single stock trader: VZ still a swing trade buy.

Recap

Last night I wrote that "we've now had three days of next to no action at all.  And I'm not expecting much different for the rest of the week."  Well I was wrong.  We didn't get next to no action, we got no action at all.  On Thursday after an entire day of trading the Dow finished up all of 0.34 points.  That's zero, as in zip, zilch, nada, the square root of nothing.  With this sort of market it is literally not worth my time to be playing this game.  Much as I love the Street, I'm starting my Memorial Day weekend a day early and intend to spend Friday puttering in the garden planting flowers.  So there, nyah!

The technicals

ES daily pivot: Tonight the ES daily pivot barely budges from 2124.67 to 2125.00. But ES remains above the new pivot so this indicator continues bullish.

Accuracy: 

Month    right  wrong  no call  conditional  batting   Dow
                                             average  points
January    8      6       4           1       0.563    627
February   6      4       5           3       0.692    183 March      7      6       5           4       0.647    976 April      3      8       7           0       0.273      1
May        5      4       3           2       0.667    428

     And the winner is...

There's just no way to call this sort of silliness so I won't even try.  Happy Memorial Day and see you again next Monday night!

Single Stock Trader

I called VZ a speculative buy last night and that paid off on Thursday with a 21 cent gain.  Things still arent' overbought so it's logical to expect a bit more upside.