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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