Whoa, a happy end'o'the week and end'o'the month to all! Our stock rally seemed to end yesterday too, for some reason stock indexes reversed hard downward just before closing bell. IBD admits we had a new distribution day but the current count is unchanged as the tally also got deducted an old one that no longer applies.
So maybe this is may not quite be an aging crumbling rally, but imho it's making me nervous.
Futures traders see a shift too this morning w/ stock indexes @ -1.02% and metals +1.69%. Add to that an even bigger econ report dump than the one we had yesterday:
8:30 AM Core PCE Prices
8:30 AM Employment Cost Index
8:30 AM PCE Prices
8:30 AM Personal Income
8:30 AM Personal Spending
8:30 AM Personal Spending
8:30 AM Core PCE Prices
8:30 AM Employment Cost Index
9:45 AM Chicago PMI
10:00 AM Michigan Sentiment - Final
The reason the economy was dead in the first quarter is because it snowed somewhere, or rained, or got sunny. Yeah, that’s why it sucked. Plus it is W’s fault. A bad economy is also caused by racism.