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Inability For Markets To Rally Higher Is A Bad Sign

|Includes: SPDR S&P 500 Trust ETF (SPY)

The markets are getting a small bounce today, but trading well off their highs. In addition, the S&P 500 is not even close to negating the large drop from yesterday. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is trading at $155.57, +0.42 (0.27%). The volatility index, the iPath S&P 500 VIX Short Term Futures TM ETN (NYSEARCA:VXX) is trading at $20.66, +0.27 (1.32%). Usually, when the markets are up, this is down. The fact that it is rising, speaks volumes ahead of the Non Farm Payrolls Report tomorrow. Something is lurking, be on alert.

Gareth Soloway