Wednesday, April 1, 2009

Pre-Market

The futures are soft again this morning, down over 100 on the Dow. It will be spun as unexpectedly weak job numbers, but at this point, if you're a trader surprised by weak employment data, you deserve to have your a** handed to you.

The market rolled over yesterday into close, which was something I was watching closely, since quarter-end fund re-balancing was at its end. I think that was the tell-tale sign even before the ADP news out this morning. Many traders expect a sideways consolidation for some time, which is very possible. However, there are some suspect major components in the indexes that could cause a larger breakdown. More on that when time is available. I'm off to Miami on business for the remainder of the week, so posting will be sporadic.

1 comment: