Euphoria back in Play, and Bears being Bulls
Last Fridays employment report seems to have energized the markets again.
Even some of my trading friends who are fundamentally bearish on the stock market got long on Friday, seems that it is felt this is a slam dunk for a run at new highs.
I am skeptical and still rely on our Fracture charts to show the way forward.
We have made a visual change to our F2 Fracture chart (some readers wanted the chart to head down when things are bearish and want the starting point to be an index of 100.0).
So we flipped the data visually and now we will be showing a chart called F3 Macro Fracture. Today we are including both charts so you can make the comparison.
You can see the this week’s little two day rebound in the fracture line that we expected and mentioned a few days ago. The Bulls think this is a lot more than a rebound, they think this is the bottom.