The S&P 500 and the NASDAQ indexes both were at new highs in the last half hour, but only the NASDAQ held on the the high. That puts the index at our target off the April 2nd low. There was little in terms of hype or fanfare today as the indexes all quietly crept higher. It is the creep high on lower volume that is keeping everyone somewhat quiet. Earnings are mixed, economic data is mixed to weaker, revenue growth in companies remains a key concern and jobs are getting lip service about weakness as well. Tomorrow concludes the trading week and the closer we get to summer the less likely the markets are to mount any upside rally… at least that is my view. We continue to take it one day at a time… that is all we can do.
Tonight I am posting a video update to cover what we are watching now and going forward. Enjoy! If you have any question just simply send me an email to Jim@JimsNotes.com.