Fear of JOB recovering. DOW retreated today, but it is showing signs that the BULLS are still in charge. $AA, $BAC, $STD, $X

ADP report today was a total failure. Instead of positive growth, the report showed a 20k job loss in the private sector.

Futures plummeted during the Pre-Market session. However, when the market opened, the BULLS took charge and started trading the DOW upwards. However, more bad news were released. Our Chicago PMI was bad, and oil inventory increased. Nevertheless, the BULLS managed to trade the index upwards. 
In the afternoon trading sessions, the BULL traders decided to close their positions, and the DOW started to dip all the way to its opening price. This shows that there were very few new buyers. Today’s action was just a pure TRADERS TRADING mode.

Investors are not selling their shares yet. They are not buying any either. I think they are watching tomorrow’s unemployment’s claims to have a hint on what the JOB market looks like.

Tomorrow, investors want to see unemployment claims drop to 430k.

Dow is still not in a corrective mode. This is still a bull rally. Forget MARC FABER or the others shorters. They are already in trouble. I am very bullish about this market.

I am long Alcoa, BAC, X and Banco Santander.