Exactly my thought. I really believe Trump made some deal with the biggest hedge funds. It's IMO no coincidence we started going back up on March 24, the day after Trump & Pence had a meeting with Citadel, Third Point, Blackstone, Vista Equity, etc on the state of the economy & market
It came down from the previous week. It's still a crappy number but, as they say, the market likes to keep its head in the ass as long as possible.
IMHO, if you're a technical trader - you really shouldn't spend too much time interpreting those numbers. In the end - what matters is what market participants do as it shows up in price. Every bad number lately have been bought... I've been technically bullish since the 6th of April and unless today reverses hard (unlikely IMO) and closes below 2800 - I expect us to trade above 2871 by tomorrow.
I disagree. Several weeks we had worse #'s and the mkt still ran. The truth is the market doesn't care what the #'s are . The fed's thrown Trillions at this and there's no were else to put your money. Oil collapsing should have scared the crap out of the mkt and it didn't . Interest rates zero, oil collapsed, cd's zero. Who cares if stocks trading at 2 times what their worth? Your chasing an asset for appreciation for days or weeks . Greater fool theory .