Markets paused today digesting Alcoa's disappointing report but Da Boyz kept things well-propped into the close. And, it may be they had things right based on earnings reports from Intel, Linear Technology and CSX Corp. You suppose these guys knew something before the rest of us? That would be shocking...snicker. Below is the extended trading session at of 6 PM EDT.
Like I said at the start, "why should I complain since we're long?" Yes indeed. But, you can glean from cynical comments I'm not too pleased with these light volume markets. If retail should start selling bonds and buying stocks willy-nilly then you should look for the exits.
Wednesday will feature more earnings led by JP Morgan and after the close, JB Hunt and YUM! Brands. Retail Sales, Business Inventories, Crude Inventories and the Fed's Beige Book also will be front and center. Taken together, these are all market movers.Don't forget options expiration is Friday. Can you believe it's already the third Friday in April? Let's see what happens. You can follow our pithy comments on twitter and become a fan of ETF Digest on facebook. Disclaimer: Among other issues the ETF Digest maintains positions in: MDY, IWM, QQQQ, USD, XLY, XLF, XLY, IYR, KBE, DGP, UUP, DBB, BDD, EFA, DZK, EEM, EWJ, EWY, EWA, RSX, EPI & FXI. The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com.
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