It's Friday* and a day when many traders are considering how to deal with their positions over the weekend. How comfortable or uncomfortable are you going home with a position? There are some strategies hinged on this notion, one of which we discussed in a very popular earlier video which you can click here to watch.
During the week you continually have rumors, reports, and market action as well as a host of other things that affect the market. I consider the close on Friday to be the most important close of the week. It provides invaluable insight into what is going on in the markets as well as an easy way to analyze the market.
This is what I do, I write down the previous Friday's close in the markets that I am interested in. For illustration purposes today I'm just going to include five markets. They are: S&P 500, Dow, NASDAQ, gold and crude oil.
Last week the closing numbers on Friday, June 4th were as follows: Continue reading "It's Friday... Are you in or out?"