Daily Market Snapshot
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| The market is expressing it's indecision about which way to go. It is now a toss-up. |
Market Direction Model
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| Today's declines were worrysome. |
Today's market action, especially in leading stocks, caused me stand up and take notice. The government employment report will be released tomorrow morning. This report is being highly anticipated and has the potential to tip the scales in favor of the bulls or the bears depending on the numbers reported.
The choppiness exibited in the market today is calling for a more defensive posture.
05/04/2012 Blog Addendum:
The employment report this morning was bad. We were expecting 160,000 new jobs and only got 115,000. the unemployment rate has deteriorated to 8.1%. As a result market futures have turned down. The High Road senario I discussed in the May newsletter has for now been rejected. I will take a more defensive posture as a result and reduce exposure to risk.
This blog post does not constitute an offer of investment advice. This blog is only provided for educational purposes. Please read the Important Blog Disclosure posted in the right channel bar.
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