Summertime Could Cool Off Market Volatility
With no major news on the calendar ahead of next week's start of second-quarter earnings season, longer-term investors should have more sway in a market that's been technically driven for months, says Cort Gwon, director of trading strategies and research at FBN Securities.
"You had short-term traders trading the market into options expiration and Friday's jobs number, but now the short-term traders are actually going to go on vacation for a little bit," says Gwon from the floor of the New York Stock Exchange (NYX). "They've been wanting to take a break since Memorial Day, but the volatility was too high. So you have the short-term traders out of the picture for the next few weeks, and the long-term investors will come back in."
For more on Gwon's take on the market, see the video below: