Stock futures rose slightly. This means nothing. Futures have been rising slightly since futures were invented and the scoreboard still reads zero.
The Dow posted its third straight losing week. Retail traders are now checking their portfolios with the same frequency divorced dads check their phones waiting for their kids to text back. The outcome is identical.
Wall Street had a mixed week for the major averages. Mixed. That's the word you use when your doctor says the tests came back and you need to sit down first. When your wife says we need to talk and her suitcase is already packed. When the Dow goes down three weeks straight but someone needs to write a headline that doesn't make the interns panic-sell their Robinhood accounts.
Futures rose slightly after the close. Picture a man treading water in the ocean telling himself he's swimming to shore. Picture him saying the waves look slightly smaller now. Picture him checking his brokerage app while a shark circles below.
The technical picture is clear. Three red weeks means institutions are selling and retail is buying the dip with money they should be spending on their cholesterol medication. This is not analysis. This is observable fact. You can see it in the order flow the same way you can see a highway pileup from an overpass.
Futures trade nearly twenty-four hours a day so algos can pretend Sunday night price action matters. It does not matter. The Dow will open Monday and do whatever it was going to do anyway while some CNBC anchor acts like the three-point move in the S&P futures predicted the whole thing.
Your portfolio is down three weeks and you're reading about futures that rose slightly like a man whose house is on fire googling the weather forecast.
Photo by Maxim Hopman on Unsplash
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