#SPY did not give up much ground yesterday and remains above 20 EMA, so intermediate trend is bullish.
#IWM, however, was very weak. As was $KRE and financials.
Today is jobless claims report. Last two weeks the indices rocketed higher with job losses in the millions as FED came in with trillions $'s stimulus. Will FED announce ETF's buys this time as the job report is expected to be dismal? Time will tell.
More banks are going to report today and they have been sold with a vengeance as their earnings reports are perceived as horrendous.
So bifurcated markets, with institutions tech growth stocks holding up while financials and small caps remain under pressure.
#IWM, however, was very weak. As was $KRE and financials.
Today is jobless claims report. Last two weeks the indices rocketed higher with job losses in the millions as FED came in with trillions $'s stimulus. Will FED announce ETF's buys this time as the job report is expected to be dismal? Time will tell.
More banks are going to report today and they have been sold with a vengeance as their earnings reports are perceived as horrendous.
So bifurcated markets, with institutions tech growth stocks holding up while financials and small caps remain under pressure.