It's Bear that is triumphing by midday now. Dow is down by 165 points now. The Bears are getting their weapons ready to pounce at every opportunity now. ISM last Thursday seems to be the start of the fire. Like I mention, if Dow breaks 12900, it is heading towards 12700. Today we are almost there.
Check out all the negative news in the media...
China problems, Greece debt problems are back (Amazing right? its back), Tech selloff, Financial companies problems....all these are possible because of decreasing confidence in the economical reports last week. Please take note that enterprise reports these month is weak. Last week ISM and Durable Goods report are proof.
I sincerely hope that 2moro ADP employment, Friday's Non farm payroll is good. If not, expect more selloff. If employment reports are good, it might just sustain the market this month, meaning it will go sideways.
If 2moro ADP employment is worse than expected, I am starting to turn BEAR.
Let us wait in sidelines now.
Rgds
Daniel
