Commentary: Paul Ebeling On Wall Street
This is Christmas week, the market closes early Thursday, and all day on Friday in observance of the Christmas Holiday.
This is often a quiet week last week we has the Fed and China in the mix, and the world’s economies are being see as weaker.
The market finished sharply to the Southside last week, it may extend the losses and may not, but the setup is there.
Either way, the safe plays looks to be to the Southside and it could be a fast move like we saw last August. So, be prepared to taking gainer if there is a deep dive.
A failed bounce Monday or Tuesday, would fit perfectly into that action. And then there may be a quick relief bounce with good Northside plays in that action.
So, look for good names that do not break their patterns.
This might be the Gift that Janet Yellen did not really intend to give Wall Street. Some good late returns can be with this kind of action, finishing off the year with some good money banked.
That sharp sell pressure came on Quad Witching expiration, that action can lead to a bounce on Monday or another sharp move South.
There is a lot of negativity in this market, so be ready to let the Southside run, and see what the market is willing to give us in that direction. The gains could be very good ahead of Christmas and the New Year.
We have to watch and see what the big money is doing and follow.
Remember, always take what the market gives, the name of the Wall Street game is to make money.
Best wishes for a Happy Christmas.
West Brook Radio