Odd for me to do some work on Saturday am but it is nice and quiet this am. First off, I view it as important to trade the markets and what they are doing, not trade the economy and what the numbers say. I understand those that argue about a jobless recovery but frankly don't give a darn about figures.
Having said that there are some warning signs about in the markets. Japan clearly busted its 50 day and has made a lower low. This might be an omen for what near term direction is or might end up being supremely buyable. I am taking it as caution. Recent ETF trades now in mild loss position without clear sell signals, I'm down like $50 in total. I bought into ILF and EWZ, left BRF alone due to low volume. Odd that INP was down when NBR said India was up, another india etf was up on the day. There is some other weakness in charts of regional ETFs. Long term I am watching some commodity ETFs for entry points in energy plays but they are not there yet.