Tricky Times...

Even though the press deemed the jobs report last week to be a favorable one, it was actually a more mixed one in my opinion. Even though headline numbers far exceeded expectations, unemployment rate continued to flirt around the 5.5% for a 4th straight month instead of getting at least to the 5.3% region. This could have disappointed some investors resulting in a more hawkish day last Friday. However, like I said last week to paid subscribers (as you can see, I don't post here everyday. You can subscribe to my daily analysis for just $5 a month to have my daily analysis sent to your email daily. Hit the subscribe button in the right under my profile picture.), much of the negativity and uncertainty surrounding last Friday's jobs report has already been priced in over the past week. As such, no matter how the numbers turn out, we should not see much downside. As it goes, we did witness strength last Friday in the opening as well as towards the closing, bringing the market off its lows to almost back on par.

This market continues to be tricky for the short term and, as I said last week again, short term is what everyone should be looking at now since the second half of the year leading into 2016 could be dangerous and tricky. I am not getting very clear short term indication of direction on my proprietary indicators but seeing that the intermediate trend continues to favor to upside along with investors continuing to return to equities from bonds on the weakness, the short term is clearly inclined to upside.

Tricky times are upon us, thread carefully.

For now, the US market remains in short term neutral trend within an intermediate and primary bull trend.