Having served its purpose, the paint was peeling off the tape with some vigor today.
Mr. Market shed some of its recent water weight, from the watering of its stocks indices, for the purposes of improving the bonuses of the financial class for the end of the year.
The first week of January may have an upward bias, depending on what happens. We may see some follow through selling on Friday, but the markets will be abnormally quiet most likely.
It is the whole of January that may likely set the tone for the new year, and not the first week. So we should watch this next month rather closely, so see what the themes might be, and how speculators, I would not dignify what they do by calling them investors, take the economic news as 'good' or 'bad' for certain classes of financial instruments.
Have a Happy New Year.
