Day summary

Markets have shrugged off yesterdays reversal by opening lower and climbing all day long. We have an all important job number coming up tomorrow morning and that will set the tone for Friday. I would not take any position today and will remain flat untill we see some more clarity in markets. Remember the major trend is down and we are in a bear market and bear market rallies are very brutal and we dont want to be caught on the wrongside of the markets.
QQQQ is still struggling at its 11 day ema and DIA, SPY and IWM are struggling at their 25 ema.

Early this morning both QID and FXY gapped open today so We didnt trade them because at that time there was good chance of gap fill and loss of early momentum. And thats what happened and markets kept on rallying the entire day. RIGL continued its move up but unfortunately without us.