The Consumer Confidence index for April came in and was much higher than "expectations". Well, why did the "experts" who set the expectations think that the number was going to be low when the stock market had gone up 30%?
The Consumer Confidence Index is a trailing indicator, not a leader. It follows what the market does. It created a good bounce for longs but don't get caught up into it. If We go above 875 it is time to worry. Until then, we have to fill some gaps during retracement.
I told you all last night that the MM's will cause panic buying and selling and the retail traders will lose. Be careful you don't get caught in the hype.
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Bonds are selling off now. Not a good sign for bears
ReplyDeleteif you believe that bonds being sold is a bullish sign for the market, regardless of technicals, you be my guest.
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