Market Review: Markets Rise On Jobs and Spain

What a difference a day makes.  Yesterday you would have thought that Spain was in big trouble and that rioters would have torn the country apart, and now they are putting austerity measures in place that focus on tax cuts to help them get out of the hole they are in.  I think that as they work their debt issues out on there own, without help from the ECB that will help continue to provide positive feed back for the markets from that region.

We also got some good news on the jobs front that there was an upward revision in total jobs from 2011 to 2012.  You can see that we had been climbing in jobless claims and then we lost 26,000 this week, a pretty good drop so this is a positive sign going forward.



Employment is the key to really accelerating growth in the markets, because as we have seen the markets react very positively to good employment news.

The SPY as I have talked about over the last week is in a "buy on the dip" pullback.  We are in a strong uptrend and the SPY pulled back to reasonable level of support and we have not dropped through the June trend line. The VIX (The Fear Index) took a big plunge  and it is signaling that volatility should drop meaning we should see the market heading up the next couple of weeks.




 VIX