Bad News Bears
Yesterdays rally in the Dow didn’t go quite far enough to get the breakout setup for today. The divergence between the Dow and the Nasdaq 100 is becoming an even more prominent negative factor. This will be resolved in time as the Nasdaq and tech sectors led by the Green Movment lead us out of gloom and despair.
For the moment the market has to deal with another surprise, not, the bad unemployment numbers expected on Friday. They will no doubt be bad, the crush of the past bubbles is being born by the workers of the country and luckily we have unemployment insurance for them.
As such the surge upward to build the platform above 840 on the S&P may have to wait for a couple of days. Surprises could be in store however. The 765 to 775 level on the S&P is a last chance level for buyers to get cheap positions placed. With the beginning of the quarter here institutional players may take the shorts for the run of their life.
The EMA ETF Fund NAV was 955 on the close yesterday.
We will be posting quarterly and annual performance numbers later today,
8:00 AM CDT