The new week begins with uncertainty around. We have the most important job data on this Friday, which will somehow decide the short term direction of the market.
Regarding today, we see the modest loss at the beginning as BA weights on DOW. However, commodity stocks are continue to outperform. Gold will try 1000 this week or next. Fertilizers are going to test new high if the market goes steady.
With last Friday's sharp decline, I talked about strategies of this week. I repeat, any drop below 12150 is a sell signal. It's not a good time to build short term or mid term long position, while at this stage, extra long term holding can be built with 1-2 times average down prepared. If you are not going to average down, please stay aside.
The market now has 4 declining month in row, therefore I wonder in worse case, we will have a positive month in May. In best case, we will have a positive March. A positive March could be established if we have a positive week now. This is all TA-wise. On FA, I tend to believe the Spring comes around April, when the rate cut really show something.
Good luck for this week!
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