Busy day for me and I am
just posting this Friday night around midnight, so I’ll make this short.
JUNE JOBS REPORT: Hiring
weak, unemployment unchanged
NEW YORK (CNNMoney) – “Hiring was lukewarm
last month, with employers adding jobs but not enough to bring the unemployment
rate down.The economy added 80,000 jobs in June, the Labor Department reported Friday, barely an improvement from the 77,000 jobs added in May. The unemployment rate remained at 8.2%.” Full story at…
http://money.cnn.com/2012/07/05/news/economy/jobs-report-unemployment/index.htm
MARKET
Friday, the S&P 500
was down almost 1% to 1355. The VIX fell
2% to 17.10. Those Options Boys can’t
make up their minds. VIX is falling so
relax, everything will be OK, or so says the VIX.
NTSM
The NTSM analysis switched
to BUY Friday, based on Friday's closing data.
Although the volume was to
the negative side, the trend has generally been up and the NTSM volume
indicator switched to buy. The price
indicator has been signaling buy for a while since the up moves have been
larger than the down moves. The charts
show we are in an up-trend; for how long?
That’s the $64 question. VIX is
not falling steeply enough to generate a buy for the NTSM “best” indicator.
MY INVESTED POSITION
I remain out of the
market…
Given the bad PMI numbers,
on both the Manufacturing and the Service sector, I am not in a rush to get
back in the market. I’ll need to ponder
the NTSM numbers some more. At this point I am inclined to see what happens
Monday.
I’ll post before Monday
1130 AM if I decide to change my invested position. If I get back in, it will only be 50% stocks
rather than my usual “all-the-way” in or out position.
