Not sticking to any firm calls on the market until the NFP Employment Report come out Friday at 8:30 AM EST.

The markets & sectors have had a decent pullback, with some below the 20 day EMA and some still above.

Here’s what I have from my charting analysis today on current trends:

MARKETS

SPX – Neutral
Nasdaq – Slightly Bearish
DOW – Neutral
Russell – Bearish
US Dollar – Bearish
Overseas Markets as a group (VEU) – Bullish on critical support
My personal market indicator $ARHI3M-$ARLO3M = Slightly bearish to neutral

SECTORS
Bullish– Energy, Materials
Neutral–  Financial, Technology, Descretionary
Bearish– Staples, Health, Industrials, Retail, Utilities

Finviz tracking shows
44.9% of stocks Above 50 day Moving avg.
55.1% below 50day  (click here for finviz)
also,
57% of stocks are above 200 day ema
43% below 200 ema

This is an interesting place for the markets: since it’s only pulled back slightly, the longer term averages have caught up to the markets. Slow grinding uptrend. This could easily go over the cliff with enough bad news. Sadly, any news that is bad means putting the economy on more life support, and for some reason, the market likes that and that’s why it’s called artificial.

Lets see if the news from the employment report tomorrow can move some of these sectors into a definite trend. Easiest play is to learn how we use triggers on the EUR/USD to play the news events on our forex trades. Coming soon!

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