Equity Markets: Why It's A Long Way Down From Here

While everyone is cheering Friday’s rosy job’s numbers, the market responded with a big fat “so what?”

Meanwhile, I have my eyes on a couple of charts that suggest “It Could Be A Long Way Down From Here”

$NDXA200R: Nasdaq 100 per cent of Stocks Above 200 Day Moving Average

$SPXA200R: S&P 500 per cent of Stocks Above 200 Day Moving Average

Click on either chart for sharper image.

For more on the jobs report please see Jobs Increase by 290,000; Unemployment Rate Rises to 9.9%; A Look at the Details

Assuming you believe those jobs numbers, a huge rise in employment is more than priced in.

Read more at Mish’s Blog –>

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