Q: The big event of today of course is the jobs numbers. I kind of feel like markets are sitting right on the cross roads, ready to go either direction. I currently see us at major resistance, failed a break out of that resistance, and weakening to bearish market internals. I do have some equity shorts, but those are in fundamentally weak stocks, so they're pretty safe if markets go against me, and they can be big movers if we get the down leg I haven't given up on yet. I need a close above the 61.8 to look bullish. Today is the day. I, like most, imagine the numbers are going to be pretty bad. I'm not sure if anyone has a job these days. Put/call ratio closed at .69, which is moderately bearish. Friday I will start regular updates of the pull/call ratio and market breadth here: http://www.sandp500analyst.com
A: we already got the employment numbers b4 the market this morning,we rallied 300....irrelevant. next excuse? seems to me,what we been seeing for last month of uptrend is new money comeing in? just a thought... is it possible the new money doesnt mind buying stocks at what appear to be historically low prices? they arent scalpers? they are actually holding long? this shouldnt sound earth shattering,its what markets are based on,people actually buying and holding stocks long. Long meaning more than 1year,not 3 days...lol 3 days isnt long!