Friends
After a couple of down days followed by a couple of up days, Friday’s session was about as quiet a session as we have seen in a long time. Stocks barely moved off the breakeven line all day long, as volatility seemed to just disappear. It’s kind of odd how quiet trading is this early in the year. Typically, there is a lot of positioning going on at the beginning of the New Year, but traders seem totally uninterested at this moment.
Anyway, by the close the Dow Jones Industrial Average was up a meager 17 points to finish the day and the week at 13,488. The S&P 500 was basically flat closing at 1472. Gold was down $15 to trade at $1662 per ounce, while oil was down $.13 to trade at $93.69 per barrel WTI.
I guess the bulls can take solace in the fact that the S&P is now holding about 1465 and seems poised to take a run at 1500. The only problem is that though there really does not seem to be a lot of selling pressure, there also doesn’t seem to be a lot of interest in buying. Earnings season really starts to heat up next week, so maybe we’ll get some of the juices flowing then.
Have a great weekend everyone.
