The market was looking quite strong in this morning’s session, however we’re beginning to see a decent sized pullback that’s erasing all its morning gains in midday trading. That said, $SPY still remains slightly below its PM highs.
It’s Friday – volatile day, so randomness is expected.
The market still awaits confirmation of a Stimulus package before the election or a clear rejection – either way, this weeks wave is showing flip/flop emotions unfolding on a daily basis.
Without a crystal-clear process, it’s very easy to fall victim to the markets many random games. If your ideas aren’t unfolding – walk away; it’s that easy. There’s no reason to stay and battle trend; especially on a Friday.
Next week, we head into the second half of October trading; which also means just weeks away from the U.S. election. With that reality, this week’s randomness may be mirrored in next week’s session.
Expect the unexpected.
Sectors are trading in a strong 10/1 bull split with Health Care holding the top spot, trading up +1.39%. Take a wild guess at who’s the lone bear of the bunch—yep, Energy; trading down -0.41%.
Our top 10 Smart Money Movers are:
$NAV trading up over 21%
$DADA trading up over 8%
$VRTX trading up over 3%
$ZM trading up over 3%
$BA trading up over 2%
$HYLN trading down over 4%
$PTON trading down over 4%
$FSLY trading down over 4%
$JBHT trading down over 8%
$NKLA trading down over 14%