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It's Not How They Open, It's How They Close

Stock Market Update Friday January 12, 2024 It's Not How They Open, It's How They Close There was excitement before the bell when a tame PPI report brought a pop in stocks and bond prices. A strong open, with positive breadth, suggested that the bulls had a chance to end the down cycle today, but they did not, which is considered a failed move. The best moves often come from failed attempts. It was also a quiet trading day on the Friday before a holiday weekend, indicating a complacent investing public. There is not a lot of time for the market to experience a quick decline, according to the Annual Seasonal Pattern, which suggests expecting a low at the end of the month. Next week is options expiration, and usually, markets do not start a downtrend during that week.


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