Stocks Rise Despite All Evidence To The Contrary

Stocks opened with follow-through declines from Wednesday’s decline as dip buyers entered in the afternoon for another stick save to win a good headline for Main Street’s benefit.

More bad news is good data was featured prominently as Durable Goods Orders fell to -2.8% vs prior 4.3%. PMI Services Index was weak when viewed by Chis Williamson chief economist at Markit below: 

And, Initial Jobless Claims came in better than expected at only 265K vs prior revised to only 259K. It seems confusing to many as the chart below displays.

Below is the heat map from Finviz reflecting those ETF market sectors moving higher (green) and falling (red). Dependent on the day (green) may mean leveraged inverse or leveraged short (red).

Volume very light as investors head for away for the holidays. Breadth per the WSJ was mixed at best.

Chart Of The Day

That’s it, I’m done for the day. Enjoy your holiday and Happy Easter.

Let’s see what happens.