Two weeks ago we were talking how low can we go, but this week we’re back to… can we go higher? After breaking down through key support levels, namely the 50 day moving averages, the indexes are back above and looking for more.

Of course we’ve had a pretty strong 8 day bounce and we may take a breather. We are closing out the frist quarter of the year and starting the second quarter and a new month. Friday we have another BLS report for employment which will tell us which way the markets will go. Oh, and the earnings season is about to start all over again.
And another thing… Have you seen this CNBC “Heat Map” that they keep touting. I just don’t understand. It is red or green, and sometimes black for unchanged. It’s not what I thought a heat map should be. I always think it should be some sort of gradation….like on FinViz.
I’ll close with a joke…about getting a job at GS:
Young Chuck moved to Texas and bought a Donkey from a farmer for $100. The farmer agreed to deliver the Donkey the next day.
The next day he drove up and said, ‘Sorry son, but I have some bad news, the donkey died.’
Chuck replied, ‘Well, then just give me my money back.’
The farmer said, ‘Can’t do that. I went and spent it already.’
Chuck said, ‘Ok, then, just bring me the dead donkey.’
The farmer asked, ‘What ya gonna do with him?
Chuck said, ‘I’m going to raffle him off.’
The farmer said ‘You can’t raffle off a dead donkey!’
Chuck said, ‘Sure I can. Watch me. I just won’t tell anybody he’s dead.’
A month later, the farmer met up with Chuck and asked, ‘What happened with that dead donkey?’
Chuck said, ‘I raffled him off. I sold 500 tickets at two dollars a piece and made a profit of $998.’
The farmer said, ‘Didn’t anyone complain?’
Chuck said, ‘Just the guy who won. So I gave him his two dollars back.’
Chuck now works for Goldman Sachs.
Good luck and happy trading!