No bids

Market spent the low volume Friday session going down. While the set up was ideal for a snap back rally, there was complete absence of enthusiasm on buy side. The post Christmas period should see some buying.

The selling smells of profit taking. While leaders are breaking down or pulling back, more speculative names in technology and biotechs and low priced stocks are the one witnessing major action. This market behavior is usually found at correction zones.

While there has been substantial profit taking in leadership group, the overall selling is muted and drip, drip kinds. This indicates probably a leg up to take out some short positions. We are yet to whiteness a substantial selling and selling which persists for a week or so.