Memorial Day being honored on Monday will make for a low volume end to this week and a short week next week as summer officially begins.
Just because we have a Holiday nearing, (fixed income closes early Friday and all markets closed Monday) does not mean we will not have volatility (market jargon for big moves.) Many in New York, and around the world will likely head for the hills for some much needed rest and relaxation.
Memorial Day marks the beginning of the summer for many as vacations are prevalent on calendars and market participants begin focusing on family and time away from the office. Often times, as we have said before, this leads to an increase in market movements as any unexpected event will not have full market participation to counter a possible trend. If we do not have a major event it will most likely be pretty calm given the storms we have been through this year and last fall, but of course anything is possible.
Earnings season is over for the most part, and as we await the next reporting season, we want to wish you a cheerful beginning to the summer and we hope you have a good next few days along with a terrific summer. Do not forget our word, patience, but most importantly, take time to enjoy each day! JK