Scalper1 News
Major averages rose on higher volume yesterday but volume levels were lower than Wednesday’s volume, showing institutions are not coming back into the market with vigor. The weak unemployment report tilts the odds in favor of the Fed keeping rates at unusually low levels for longer than expected (as expected). But the market has been expressing exhaustion since December despite the QE-favorable environment. The price of oil jumped on signs of improving demand in Asia after Saudi Arabia raised its official price for Asia buyers. This action, while positive, does not a floor make, so the downtrend could easily resume in the days or weeks ahead. With continued slackening global demand, stocks are fighting a serious headwind despite the buoyant forces of quantitative easing. . Scalper1 News
Scalper1 News