Novice Trade: SPDR S&P 500 ETF

I'm sorry, I cannot put my finger on it, but something stinks this week. Perhaps it's because Japan is closed for three days and traders can push around the Nikkei futures market. Perhaps it's a string of bad economic data over the last day. Perhaps it's Europe and Brexit starting to become a greater topic of conversation. Why enjoy a relaxing summer when we can have Europe crisis! Perhaps it's the "golden crosses" that long term is great for the market but near term a bit more bearish.

On the other hand, the market is off about 18 points as I write this and VIX is up less than 1 point. The market seems to think that this is a one-off event, but I am not sure that is the case. In three of the last four trading days things have been ugly. Realized vol touched below 5% and is now moving higher toward 10-12%. Thus, with all these mixed signals I am still a believer in the market long term, and by long term I would be less than surprised if this time next week we are higher than we are now. However, I think it's going to take a decent, not great, non-farm payrolls report to make that happen....105 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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