March 4th: News Traders Got Hit

Those who listened to the "good" economic news got a surprise. The market sold off taking money from traders who were thinking "buy".
It was a textbook day with clear sell signals at the jobs report at 8:30 am.

Looking at the daily chart, it seems to be defying gravity. We'll have to watch each day to see if these LML signals play out. We don't have any LML signals on the weekly or monthly charts yet so pay attention. We may just continue to see a rally.