After reading Urban Camel's weekend post, I see a chance for the market, especially for the NDX, to consolidate gains. We are headed into the very predictable post Thanksgiving day bullish period in two weeks. A bullish move in to the end of the year, needs a set up!
I also remember that the last trading day of October closed with a SKEW of 125, which is average in usual market conditions, but very low considering the recent high SKEW prints we have seen since the market started its up trend in October.
On November the 6th, we saw a market that traded rather weakly, but printed a SKEW of 137. This is not quite the set up for strength going into next week.
