Today the market rallies erasing all of yesterdays losses, simple as that. Its thanksgiving and christmas time, this is a time for wallsteet to give and it will give returning huge risk free profits to anyone long this market, so keep buying those 1% dips followed by 3-4% increases without any worries.
We have a bad surprise on durable goods orders. But the good jobless numbers are probably due to seasonal hiring and/or shortened holiday week? Anyway, thank goodness for this gap up!
Market has nothing to do with those numbers. If it went down, they would have said durable goods. If it goes up jobs. The market was going to go up regardless, because the buying pressure is higher than the selling pressure. The latter are due to price dynamics and inertia, and post importantly the consequence of negative sum game.
Well gee, if you would've told me that yesterday morning, I would've gone 100% long instead of 90% long.