I don't know what I meant to say. I'm not trading today. It's expiration friday. Usually too volatile for me, one way or the other. Still very early in the day..
all week long the market has gone up on bad numbers. today we got one good number and it sold off. change of trend happening? 10:05 ET Economic Detail : The 7.2 point rise in Michigan Sentiment leaves the strongest level of expectations and the overall index since May '02 as the two month post-war surge sums to a 20% rebound. The weak labor market and manufacturing sector leave the present situation component up just 5% over the last two months as expectations have surged 33% with the end of war and higher equity prices. However, while the strong lift in sentiment is encouraging the survey tracks the consumer psyche far more closely than consumer spending
Too big of a run too quickly IMO. Market has been shaking off bad news impressively. But given that it is Friday I see profit taking as the course of action.
Ramp up, ramp down, up, down? Better make up your mind ... or is it Happy Hour already where you're at? Or maybe you started early!!