The market on $SPX and the Dow did rally yesterday as I believed it would; however, today’s economic data of the Nonfarm Employment Change (NFP) seemed to have messed up my trade. The NFP at -4% suggests that nobody created new jobs for people; however, isn’t school back in? Aren’t high school student and most college student working on their homework rather than working for the paycheck?

In addition to this, at the same time we have the NASDAQ breaking out up above resistance and leading the market along with some other sectors, and if the economic data was so “bad” isn’t that a “good” thing if we really are suppose to be looking ahead? So, I bought some Jamaican Champagne Kola drink from the store (naturally flavored) and a beef patty and cocoa bread, and then I slept on it, dreaming about the markets and people debating in my head about different points of views about how the market works.

Ok, so, the NASDAQ fell back down to support levels and some other stocks I’ve been monitoring. It gapped down to the level of support where I’ve been waiting to buy it at; so, I feel great about that! The NASDAQ will lead the markets once again. I like the way it just stopped at support. Just to be sure about this “rose in the mud” scenario and/or this divergence from the bearish sentiment, I am waiting for a green day next week or some other feature to buy the NASDAQ ETF symbol QQQQ. It stopped at 61.8% Fibonacci level and some of the bulls technically “should” have entered in today at $47.95 (QQQQ) and/or $2556.59. I am a reluctant bull for that market since I am already in other market positions. So, I’ll wait for next week’s rally.