Trading gets volatile

Monday trading made us a bit happier than Friday's weakness.

But Tuesday saw a powerful downdraft that was enough to cause lots of people to retreat from their positions. It was a significant distribution day as indexes met resistance.  We held on.

Wednesday was a battle along the flatline all day.  You could see traders playing chicken.  Is this market going up or down?  Well, Wednesday's answer was, sideways. Which was no clear answer at all.

Thursday saw a negative reaction to soft numbers out of China before the open.  Early trading followed the weak futures.  And then, the buyers made a stand.  In fact, heading into the final hour almost all of the day's losses had been overcome.  Sellers took over a bit in that final hour but the outcome remained... a market that had rallied off the lows of the day.

We head into Friday trading at 100% and, once again, watchful.