We've got a 3-day weekend coming up, and the equity markets have had some headwinds due to a swift reversal on the fed minutes on Wednesday.

Here's how I think this weekend will play out.

This is not anything that is set in stone, or any sort of in-depth technical analysis. This is me "playing the player" rather than looking at fundamentals-- we've seen this crap before

1. Sunday will see the forex markets open and the yen will continue to strengthen against other currencies
2. This will lead to a further correction and volatility in the Nikkei and will cause a spillover into the futures markets
3. The US futures markets will open at 815 and see increased volatility
4. Every fund manager in the Hamptons will have to un-pop his collar, put down his tom collins, and get glued to his Blackberry iPhone Samsung device. Calls will be made, doom and gloom will permeate, zerohedge's twitter feed blows up.
5. Sell orders line up for the open on Tuesday. Futures markets have already priced the market down in anticipation of these sell orders. Volatility futures spike up and there's a nice gap down in many stocks.

That's when you buy.

Below is a chart of the price performance in AAPL relative to the rest of the Nasdaq 100.

Back in 2012 during AAPL's run to 700, it wasn't just about the fundamentals.

It was that the stock became one of the most liquid instruments in the markets. It was effectively a "store of value" for institutions, because with liquidity dropping out of so many other stocks, it was a place to park money that could be pulled out easily and it would still fulfill fund mandates that required a certain amount of stock exposure.

Now the market is pulling back a little, and risk appetite seems pretty full. If demand for stocks heads lower, it would not be surprising if money started flowing back into AAPL again as a twist on a "safety trade."

After an ugly reaction to its earnings report this past quarter, FedEx's stock has seen some bullish volume and a pattern that suggests it is ready to fill the earnings gap.

The high volume runup in early May caused the stock to run hard into resistance at 102.50, where sellers stepped in and took profits-- those sellers were most likely those who had been carrying the stock since "buying the dip" on the earnings breakdown.

Since that move, the stock has been consolidating, with buyers stepping in just below 99. The fact that the stock hasn't been able to sell off further than that has been a bullish sign. This consolidation has left the stock churning and different buyers are setting up-- those that are looking for higher prices.

The first price trigger was 101, which it breached Monday. If the stock can get and hold above 102.50 it will most likely fill its earnings gap at 106.46 and possibly overshoot to retest 52 week highs. This is where those fresh buyers will come in and take profits.

This analysis, of course, is all based on the assumption that market correlations stay low and that the transport index doesn't get hit very hard. No upside volatility in oil would help remove some uncertainty, as well as proxy strength in UPS.

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