07 September 2010

SP 500 and NDX September Futures Daily Charts


Tomorrow evening September 8th begins the Jewish holiday season Rosh Hoshanah with Yom Kippur on September 17th. The old Wall Street saying from the 1920's was "Sell Rosh Hoshanah and buy Yom Kippur." However, in modern times the opposite seems to be more applicable.

Unless 'something happens' I would expect volumes to remain light as they were today, and for the US equity markets to be shoved around by short term traders as price discovery and capital allocation mechanisms remain broken.


SP 500



NDX