We are suddenly has to deal with a few events at the same time, and that makes trading  of next week more interesting than it should be.

It seems that the impact of Dubai's default is hard to assess, based on Friday's trading, it seems like the impact would be limited at least for now.    but since it is an unknown, it neverless will cast a shadow on the market, so, probably, the market will make some corrections, or, the market will not be as forgiving as it was last couple of weeks.   So, you better hope some good economic news (black friday sale for example), if you are long.

Dollar probably will tied to the event on Dubai,  it may continue to provide an indication as where market headed.  Stonger dollar, lower the market and vice versa.

The financial, Semiconductor and small cap all are underperformer before, so, they probally better "short" candidates if you want to go short.

VIX had a bigger jump Friday, it could go higher to reach its upper bound.

the area to pay attention:

short:  financial, small cap and semiconductor.
long:   material, china.




So, we will watch US Dollar index and VIX closely to get a clue as where the market is headed and prepare trade both ways.