Inability For Markets To Rally Higher Is A Bad Sign
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.