Wednesday, April 1, 2009


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.

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