Buyer's Rush In?

It is 8:00 Friday morning and I had to do this post. So the US stock markets got hit hard and finally had a more than 1% drop for the first time this year. As of this minute the Dow futures are more than 100 points off the lows from last evening and the S&P has rallied more than 15 handles as well. With the markets hitting a record high yesterday morning and then collapsing into the close due to the geopolitical events, one must wonder who in the world is buying especially going into the weekend!

Here is a look at the hourly charts on both major US indexes

Talk of complacency! Or market rigging at its best! Oh and there is Gold of course, the supposed safehaven, after making a high above 1326 yesterday we are now trading around 1310. Let's see where these markets finish the week. Be safe out there and if trading be quicker than ever!

TraderMartin