4/3/09
Japan, FTSE, SPX
Japan has a double bottom in FTSE and SPX on bounce after lower low. The SPX made a pre 2002 low and the FTSE held it's 2002 low. Japan has lost it's customers in the US and the Brits are broke but not as broke as the US. Who's fooling who. I am surprised/impressed the FTSE didn't break 2002 lows though.
4/2/09
One Red flag SPX RSI... Look at the $SML trend break From '08 highs! (TNA trade)
SPX RSI WATCH
NICE $SML Trend Break
NICE $SML Trend Break
Markets Gap Up
USO SPX XFL TNA UCO FAS all up big on 3% gap up
More bad jobs #'s out but who cares, right. We are up near rally highs of 25% again. These things don't end on a wimper so look for more upside. Check the post on the 82 market, up 40% in 9 weeks I think. BS m to m revised today helping the XLF up 8%
I will be on line with charts later. 15 min charts in overbought here but the daily charts have room per RSI readings below 60 now
More bad jobs #'s out but who cares, right. We are up near rally highs of 25% again. These things don't end on a wimper so look for more upside. Check the post on the 82 market, up 40% in 9 weeks I think. BS m to m revised today helping the XLF up 8%
I will be on line with charts later. 15 min charts in overbought here but the daily charts have room per RSI readings below 60 now
4/1/09
SPX 811 Close - Over 20% mark (800) again - Ranges for Thursday
More than 600 point movement in the DOW today. Choppy trade with many headfakes.
Record Job loss and we are still just under UP 20% for this rally...hummmm
ADP Private Job Report worse than consensus (-663k) by almost 100k at -742k, a record absolute drop. Also, the February revision is, unsurprisingly, lower from -697k to -706k. Amusingly, instead of slowing down job cuts are picking up. Also, the ADP is usually seen as a more optimistic version of tomorrow's initial jobless claims report.
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