Dear Friends,
With last week weak ISM report that falls below expectations, and recent weakness in the market, with Dow unable to conquer 13000 points, and STI failing on 3000 points, let us rest a while.
A good report from ADP employment on Wenesday & a good Non farm payroll and unemployment rate on Friday is needed for this run to continue. If all are below expectations, stay away from this market.
I am also waiting to see if there is a change in direction in the market sentiment of New York Stock exchange and Nasdaq exchange stocks. If there is, I will be going bearish.
Do take note of our Market Sentiment Indicator every day now!
Rgds
Daniel
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