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Discussion
No Israel-Iran headlines thus far this weekend looks to be the catalyst for a bounce into early next week, as indicated by Weekend Wall Street trading.
Yes, WWS is illiquid, but if you’ve followed it over time you’ll know it has signal value for early week trading. Not only is it up 21 bps (the equivalent of a 50-100 bps move on Monday), importantly 55% of accounts trading WWS are long, strong affirmation of the sustainability of a bounce.
Obviously, for a bounce to transpire there can’t be any negative Israel-Iran headlines between now and tomorrow morning at 9:30am EST.