All The News Is Positive – Now What?

So all the economic news that came out this morning is positive. Pending home sales were higher. Retail sales where higher. Jobless claims came in lower than expected.

All in all this should be a feeding frenzy for the bulls today – but right now it’s not. The market is still crawling higher but not launching into new territory. So what does this tell us?

Well, maybe all the news today had been expected and priced in yesterday during the 3% jump higher? That’s my main guess. Even though the news wasn’t out, investors could have already been expecting better results and started buying up stocks.

Now that the news is finally out I still think we are going to see some selling pressure purely on profit taking from yesterday. Investors aren’t that stupid to think it could continue straight up from here (at least for rest of the week).

Anyhow, those are my thoughts. For our members, we are sitting very nicely. We have a lot of great positions below the market so the higher it goes the better off for us!