Sometimes the markets are like the weather in Chicago. If you don’t like what is happening wait for thirty minutes and it will all change.
Such was the case on Thursday.
Positive unemployment claims started off the day and although they turned out to be better than expected it didn’t have a very positive effect on the market.
On Tuesday the Institute for Supply management released manufacturing numbers that caught many economists off guard and propelled the Dow Jones Industrial average to its highest level in almost four years.
On Thursday they released figures that recorded what had been occurring in the non- manufacturing Index, and the market had the opposite reaction. It caused the stock and commodity markets to tumble, the exact reverse of Tuesday.
The street had priced in a very bullish number and when that number did not hit the board prices started to tumble.
Leading the way was crude oil stumbling more than 2%. The major market indexes followed and have now given back more than 1.5% from their tops on Tuesday morning.
On Friday the Labor department will release numbers that will show how the total employment picture is shaping up. I have been saying all week that this number could tell us if the tops of the market have been reached or we will break out to new highs.
New opportunities will result from the numbers to be released on Friday, and my teaching can make sure that you are in the right place to take advantage of them.
Do yourself a favor and contact one of my financial consultants, and let me teach you how to take advantage of any market. To work with me personally click the link below.
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As Always,
Keep those stops tight.
Todd “Bubba” Horwitz
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