Commentary: Paul Ebeling on Wall Street
$DIA, $SPY, $QQQ, $VXX
Last Thursday, the Month/Quarter ended higher ahead of a 4 day Holiday Weekend, so the Big Q is does new money enter and help extend Thursday’s move, and do gains hold. And let’s not forget the volatility, will it calm.
Remember, a market rally has to have leaders, a market can start a rally, but if leadership fails to emerge it will fail.
What I am watching is if the DJIA and S&P 500 have set up the double bottom at the early February lows at the 61% and 78% Fibo retracement respectively.
It is Key for the leadership stocks start to make a new breaks North with volume, and if they do will play them based upon their individual and index patterns.
This week investors look to start April and Q-2 off with a positive outlook.
The March jobs report Friday will anchor the early-month economic data schedule, just ahead of Q-1 earnings that begin in earnest on 13 April. A speech from Fed Chairmen Jerome Powell Friday afternoon regarding the US economic outlook is a feature on the economic calendar this week.
The Bulls Vs The Bears
Sentiment Indicators
VIX: 19.97; -2.90
VXN: 26.68; -3.51
VXO: 22.05; -1.74
Put/Call Ratio (PCR) CBOE: 0.95; -0.39
The Bulls Vs The Bears
The Bulls dove and dove again getting out of the stratosphere
The Bears are up, but relatively weak compared to the Bulls.
The Bulls are at: 49.5 Vs 55.5 last
The Bears are at 17.5 Vs 16.8 last
Remember, pay attention in here, always take what the market gives, as it is your money and your responsibility.
Have a terrific week.
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