Traders, Say Goodbye to the Most Boring Summer Ever

Friday is the final day of the most boring summer on Wall Street that I can ever recall, but don’t be shocked if the broad averages waft higher with more vigor than they’ve shown in recent weeks. One reason this seems logical is that daily price action has become almost too predictable in recent weeks, with stocks rebounding late in the day off their lows to close near the midway point of their intraday range. We’ve seen this happen so often that many traders must be expecting it by now. If that is indeed the case, then we should expect stocks to do anything but.