The market has met significant resistance near the 52-week highs. It is quite difficult to find either long or short trades that provide reasonable risk/reward entries.
This week started off on an extremely negative note with pre-market futures down sharply. The stock market indices gapped lower, had an initial bounce, but that was about the best that could be said for the day.
Economists can't really predict levels of employment, growth, prices, or anything else. And they are especially bad at it when they have the wrong idea of how things work.
After spending eight consecutive days of rallying, the market was met with selling pressure on Friday. Now Deron Wagner would anticipate further selling early this week.
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