Indices - S & P, Dow, Nas, Etc.

Quote:

Originally Posted by grizzums

A bit disappointing that the market could not sustain anything today after the positive jobs news on Friday and drop in oil prices...I suspect the mood was tempered and Bulls were cautious because the positive jobs report will dampen anyones hopes of the need for some sort of rate cut in the near future (I didnt think we were going to be getting one anyways)...

In the end though, positive jobs report is good for the economy even though it is more of a lagging rather than leading indicator...

I believe the markets will move tepidly higher until a catalyst, which I believe will be the CPI report this week...

If it does not appear to show a moderating or even slowing of inflationary concerns then those that are hoping for a rate cut will have their hopes even dampened more and will be a positive for the bears....if it does show inflation beginning to come under control then I believe that will be helpful for the bulls enthusiasm...

Either way....I am still market neutral...about 80% long (what is not sitting cash)...and will try and trade appropriately.

Good Luck.

well, Grizz, today was the turning point in my model and it just dithered on both indices. troubling to me because it did not begin the downslide i would almost have bet on. but they did begin the arming i mentioned, with more tiny upticks. so i'm still expecting what i said- only even harder now. had they moved up substantially, we could have seen a decent runup for a few days. this hesitation is ominous, i think. LOL, like the line you posted... "technicians didn’t like the market, quants didn’t like it and the fundamentals looked terrible."

but i really don't "care" which way it goes- i'm just looking at a graphic overlay and calling it like i see it. maybe tonight i'll take another look and call support level(s)