DPR Update – Wednesday May 3rd, 2017

DPR Update:  Hold the position, nothing to do

Today the Fed rate was unchanged and they actually provided quite a positive statement on their review of the economy.

However, unusually, Apple disappointed on iPhone sales and that put pressure on the Nasdaq that the QLD ETF follows.  It was able to recover from the earlier lows and I now see a further move higher tomorrow.  Who can be sure, as the quote says, the market is never obvious, it is designed to fool most people. That’s why systems are so powerful and why they must be respected and followed.

So, once again, nothing to do.

Bring on the bulls!

John