Payne's Perspective: January 9, 2023: Behavioral Clues
Early in the week, it was established that there was indeed a Santa Claus Rally (the last five trading days of the year and first two trading days of the New Year), but it certainly didn’t feel festive. As a result, sessions early in the week were rough and tumbled as sellers pounced on economic data, including the Job Openings and Labor Turnover (JOLTS) report, even though there were red flags in lots of data.
But Friday, things turned in a big way.
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