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Friday 13th Bear Trap

By jnyaradi
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Courtesy of John Nyaradi.

The Bulls just might gore the Bears today in the stock market for Friday 13th, 2013

stocks, ETF, Daily Market Wrap, SPX, SPX Chart, NYSEARCA:DIA, NYSEARCA:SPY, NASDAQ:QQQ, NYSEARCA:IWM, NYSEARCA:USOThe Fortune Teller Speaks:

I predict a stock market rise on Friday due to the Congressional “compromise” in the House of Representatives and due to the potential and expected bounce in stock markets.

All Eyes on Wall Street:

All eyes on Wall Street appear to be watching Congress and specifically the House of Representatives, as lawmakers passed “historic” budget reform in the amount of piecemeal dollars and cents.  Still, both sides came together in rare form, which is definitely not what investors are used too.  Although we are not even close to being out of the woods yet regarding budgets or a potential government shutdown in the New Year, yesterday’s House move will likely pass through the Senate next week and investors will likely celebrate the lack of potential conflict today.

Hindsight is a Beach and We’re Playing On It:

Yesterday we were 100% correct once more this week, as the S&P 500 (NYSEARCA:SPY) lost .38%, the Dow Jones Industrial Average (NYSEARCA:DIA) lost .66%, and the NASDAQ 100 (NASDAQ:QQQ) lost .14%.  As always, I do not care where the stock markets go, just as long as they go our way!

Greed or Fear?

Fear was the name of the game yesterday, I sense a wee bit of greed today.

Fun Fact:

According to a survey on Market Watch, Ohio is the state where residents curse the most. I swore it could have been a different state!

My Secret Sauce is Green:

I think the bears will be unlucky this Friday the 13th.

Click here to learn more about John’s book and for a free membership to Wall Street Sector Selector

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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