Friday's advancing volume beat declining volume by 10 to 1 on the NYSE and 7 to 1 on the Nasdaq. Overall, it was a bullish move for the market, although it remains in a trading range.
John Mauldin used to write about things like P/E ratios, secular bull and bear markets, valuations, and all of the things we used to think about in the Old Normal. Now, the New Normal has to have its turn first.
In the US, half a million Americans filed for jobless benefits last week -- the highest number in nine months. At this point in a typical recovery, job growth should be strong. Instead, it is shockingly weak.
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