Q2 observations: We should have seen this one coming

Wayne Whaley

wayne@witterlester.com

April 6, 2012

In response to today's March unemployment number, which fell this year on this
Good Friday holiday, Globex trading suggests a 1.5% drop in stock prices is due on
Monday morning. Hindsight is 20/20, but there were some red flags for next week,
as the market showed weakness despite 3 strong first week of April trends:
1) The first weeks of April.
2) The week before Good Friday.
3) The first week after a strong quarter.
When the market goes against the trends, go with the market. We should have seen
this one coming.
In trying to discern whether this week's pullback is a bull market correction or the
start of a bearish cycle, I thought it would be prudent to do a quick review of what the
tape and various indicators have been trying to tell us over the first quarter of the
year. … More

Wayne Whaley