22 Apr 2015 - Not Bad For Bad Numbers

The pre-market hours started with an impulsive move lower today and had many thinking today was going to be a bad day. Many of those who reported today gave out bad numbers and many warned that the economy will be stagnant for quite a while.  While these companies gave warnings, markets continued their stair step upwards contradicting the sentiments.  So I guess, Bad news is good news...

This has gone on for a long time and should be no surprise to investors.  What is frustrating is the manipulation and the unpredictability of data that is coming out on market performance.

Our ST has turned up today, and should be noted even if we feel bearish on the market.  Therefore if you are bearish, you should wait for the indicator to turn down so that your trade is on the right side of the trend.  This can be accomplished on an earlier time-frame of your choosing.  But do remember that whatever time-frame you are choosing to use as a trigger has a shelf life reflective of itself.

Unless prices can break above the resistance levels, I will remain bearish on the market, and will trade any weakness.

MT: DOWN
ST: UP
PA: UP

Note:  Today is a Bradley Turn Date with a power of 53/100.  Keep an eye for a top or a continuation.