Alcoa's fog
The market opened lower today based on disappointment with last night's earnings report from Alcoa. Alcoa posted yet another quarterly loss after some had expected the unexpected which would be for Alcoa to actually post a gain! The big earnings for the week will be JPM on Friday which could certainly be a market mover.
Friday Dichotomy
The big government jobs report on Friday represents a very interesting dichotomy for the markets. Some pundits are actually looking for evidence of job creation out of the jobs report. If that occurs, the dollar will most certainly rally. Will the correlation with the dollar and the market continue or be broken? If the dollar rallies, will the market sell off as it has in the past? Or will the correlation be broken as the market likes the news of a strengthening economy (via job growth) and rally along with the dollar? Will a disappointing jobs r
Impressive Start
The market holding yesterday's rally into the close was quite impressive. The slight pullback in today's early trade is normal and actually healthy. If the S&P doesn't give back the rally in the next trading day or two, the move to 1220 appears likely.
Important Final Hour
Ok, here we go the all important final hour of trade. Today however, it is even more important as this one single hour will tell us an awful lot regarding how trading will go in January.
Happy New Year
Happy New Year everyone, as mentioned in the podcast this morning, we are closely watching the first real day of trade (by that I mean with real volume) in the past two weeks. As of this writing, the market is holding its early gains, however it's the close of trade that will really matter today. Can the market hold the rally into the close? That will tell us a lot about where January goes trade wise.