After last week’s 400 point gallop on April Fool’s Day (which I find quite ironic), the Four Sisters pulled in this week on the heels of poor earnings from General Electric (GE), bad retail sales, and lowered guidance from UPS (UPS). Given the message the credit market is sending, we felt that a retest of the 400 point day was very likely. The SPX now sits right above its 50 day moving average of 1342.
The high stakes game of tug-of-war between the bulls and the bears will most certainly come to a head in the coming sessions to see if the market can hold its January and March lows. Perhaps a tell as to how this slugfest will play out is the financials… seeing as the XLF as already closed beneath its 50dma. Play ‘em tight Minyans and do no harm… no need to be a hero.
The Four Sisters Performance
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