Don’t like the weather….?

Posted on Jun 30, 2017 by in Letters

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464

Mark Twain famously said, (of weather in San Francisco) If you don't like the weather here wait a minute.  That is still true.  Weather is insanely variable in San Francisco.  Obviously, the same can be said of the market.  If you don't like it wait a minute.  Bears attacked the market Tuesday.  Bulls counterattacked Wednesday, and then Thursday the bears put on a serious raid.  All this and prices still within the relatively tight rectangle (or congestion zone).  Volatility  picked up noticeably  with ranges of 20.77, 23, and 37 points.  The market is nervous as a cat on a hot tin roof and this activity  didn't help.

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