All News is Good News

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Well, I guess we needn’t fret about my “dream a little dream” charts. The jobs report came out, and the market is higher. See, because if jobs were strong, that would mean the economy was strong, thus higher equities. But since jobs came in really weak, that means – – ummm – – well, I’m not sure what it means, but it also means higher equities. The logic is inescapable.

In any event, the daly ES is still fairly inscrutable, since we’ve been “drifting” for months now:

0903-es

Of slightly more interest is gold, which is catching a bid. It might have a decent chance of hacking its way back up to that triangle, after which time I’d say it’s “bombs away.”

0903-gold

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