Smoke and mirrors on the ceiling? Champagne on ice? You just can’t kill this beast? We’ll see, but hey, let’s have some fun with it.
Tomorrow is the end of quad-witching. Despite a little sell-off today, markets remain much overbought as we head toward the end of September when, theoretically, tape painters will come to the fore.
Markets are priced to perfection as goes the old maxim. But, no matter the bad news - we still seem to be able to keep selling contained. The funny thing about data like Jobless Claims is that we’re still losing a lot of jobs even though they’re less than some pinheads predicted. But that’s the market we have.
Let’s see how they close things out tomorrow. You can follow us on twitter here.
Disclaimer: Among other issues the ETF Digest maintains positions in: XLB, XLI, IYR, IEF, TLT, UDN, GLD, DBC, USL, XLE, DBB, EFA, EEM, EWJ, EWC, EWZ and RSX.
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