‘Seasonality’ Takes a Licking

With bullish seasonality at gale force ahead of the Fourth of July holiday, expectations were high for a rally on Thursday. Instead, bulls got sandbagged when stocks turned sharply lower ahead of the opening bell.  My hunch is that buyers will turn the tide before the week ends, but I wouldn’t hazard a prediction about Monday, since the tape will barely be crawling on a non-holiday day that most traders are likely to punt.