This is what I expect to see during a holiday week. We have some pockets of strength, but overall, the start to the day has been quiet. There may be some opportunities in some subtle movers, but most of the traders I've talked to are doing very little today and keeping sizes quite small.
The quiet market has favored the bulls over the past two years. The big consumer confidence number doesn't surprise me too much, as spirits are generally higher during the holidays. Things are perceived to be better even if they are not. Perception is reality, so a bump in confidence after scoring some good retail deals and getting decorated for the holidays isn't a shocker. The number is "wasted" a bit today, as a report which surpasses expectations such as we saw today would often propel the market much higher....292 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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