Wed March 30 2016
The Rally yesterday erased the PAR SAR daily sell signal which lasted a mere two days. This morning oil is up and the Dow has jumped another 100 points.
We have a bifurcated market here. On the one hand a few stocks ala the Fab Five in the NASD are holding up major indexes. On the other hand huge swaths of the security landscape have been decimated like banks and energy service.
Best guess is that the market advances into Friday April 1 before starting a pull back that will last past April 15.
I continue to see more fundamental signs of weakness. We reported on sub prime auto loans a few posts back. Today on page C1 we have
Another Miami Condo Bust Looms
The article notes that weakness in South America means weak condo futures in Miami. Also
Oil Sinks as New Supply Emerges
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