Hey friend,
The latest jobless claims data appears to be countering the “recession is imminent” narrative the fear mongers can’t stop pushing.
Let’s see how markets have been reacting to the latest data.
The Daily Direction
Note: All indexes closed sharply higher yesterday after the jobless claims data, sending the medium-term direction of the Dow Jones back upwards – but just barely.
The Daily Nugget
The market typically recovers faster than sentiment does.
As yesterday’s sharp upward spike shows – the market moves faster than sentiment, both on the way up and down.
If you wait for sentiment to shift, you’ll always be behind.
Of course, there is no guarantee the selloff is over.
But this is a reminder that the selloff will be over before sentiment shifts.
Plus, there are stocks that are surging right now – even if most are missing them underneath all this volatility.
The Traders Agency Team
