The markets opened flat on the day after the ADP jobs number came in slightly worse than expected yet still showed a constant small improvement month after month. News means nothing. Why? Well because the dollar is king right now. As we have said day after day just keep your eye on the dollar and it will show you everything. After the open, the dollar slowly sank down; this gave the markets a solid push higher taking us to new 52 week highs on the SPY at $112.01. This was a great number for a few reasons. First it was an even number play (part of the InTheMoneyStocks methodology). This tells our subscribers how and why to short that. Second, before any subscriber looks to go long they must first look for confirmation. That did not happen. So two signals here told our premium members and traders to look for a pull back. All of a sudden the markets started to tank. Coincidence? We think not as the methodology continues to be the best out there. Why are the markets falling back to the flat line on the day? Simply put, the dollar has caught a solid bid. For those of you with InTheMoneyStocks, you know the support level double bottom on the dollar got tagged yesterday and is holding today. Another reason to expect a pop on the dollar and a near term intra day pull back on the markets. The methodology is simple yet amazing. Enjoy folks.
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