Can The Market Really Finish Lower On A Friday?

This morning, the S&P 500 Index e-mini futures (ES-U2) are trading lower by 6.00 points to 1394.50 per contract. The decline in the futures comes after some weaker economic data was reported out of China. The interest rates on Spanish and Italian 10-year debt is also rising today causing money to flow back into the U.S. Dollar. As you all know, when the U.S. Dollar is higher the stock markets will deflate and trade lower. Many traders are expecting this trading day to finish sharply higher as the past couple of Friday trading sessions have ended positive, however, when everyone expects the same thing the markets will usually do the opposite. This tells us to be on our toes into the closing bell.

It appears that the LIBOR-gate scandal is not going away anytime soon. Many banks could come under some pressure as politicians continue to seek answers. Some stocks such as Barclays PLC (ADR) (NYSE:BCS), Lloyds Banking Group PLC (ADR) (NYSE:LYG), UBS AG (NYSE:UBS), and Credit Suisse Group AG (NYSE:CS) could be volatile in the near term future.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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