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Walmart Continues to Weigh on Market

Traders shook off the better than expected unemployment numbers and ended down on Friday, taking oil with it.

This morning, oil is bouncing off the blue support line drawn on the chart last week and there is negative sentiment everywhere, so don't be surprised to see it break through.

The importance of the Walmart numbers cant be over emphasized. Our timing indicator continues to improve showing a buy signal for the broader market, so we continue to watch the GTC trades we have in place waiting to pick up shares of what should be the leaders in a recovering stock market.