Markets Drop Sharply As Cycle Plays Out Perfectly
The markets are selling sharply today. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $137.94, -1.84 (-1.32%). This drop is mostly a result of the Non Farm Payrolls data from Friday. It showed far less jobs created in the month of March. The markets were closed on Friday, thus the reaction today. In addition, the ugly Spanish bond auction last week has sent worries of further issues in Europe sky high.
This down turn in the markets is playing out perfectly. In analyzing the markets, we saw a change in psychology which would shift the markets first into sideways choppy action, followed by solid downside. The last few weeks have been just that with the drop beginning today. Members received short alerts and are profiting.
As the markets collapse, Apple Inc. (NASDAQ:AAPL) remains strong, trading at $634.33, +0.65 (+0.10%). This is the last haven for money and the last area that is helping the markets not totally crash.
This week earnings start up. Tuesday after the markets close, Alcoa Inc. (NYSE:AA) reports. Then Thursday after the close Google Inc (NASDAQ:GOOG) reports followed by JPMorgan Chase & Co. (NYSE:JPM) Friday morning.
The market volatility and action is set to increase in the coming weeks. Make sure to know your market levels and swing trades.