Weak Jobs, But Stocks Higher With Debt Crisis Avoided

Weak Jobs, But Stocks Higher With Debt Crisis Avoided

It was a wild week in the stock market last week, as daily stock market swings kept investors confused and on their toes. The muted reaction to Friday's weak jobs report helped maintain the weekly gains. It was likely the vote to postpone the debt ceiling deadline that helped reduce the selling, as the 1. 3% drop in the S&P 500 on Monday got the markets as well as some politician's attention. It is still a split market, as the Nasdaq 100 NDAQ was only up 0. 2%, while the iShares Russell 2000 was down 0. 3% for the week. Those in the energy stocks or ETFs were the biggest winners, as the Energy Sector Select (XLE) XLE was up over 5%, while the Real Estate Sector (XLRE) XLRE was down 0. 70% for the week. Since August the nervousness of global money managers has supported my expectations of a market correction. There had been signs since July that most stocks were moving lower, not higher. The NYSE Composite formed higher highs in early September, but the NYSE All Advance/Decline Line did not make a new high, diverging from prices (line c). This A/D line includes not only stocks but