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| IMPACT Stream this AM shows some weakness |
SPX futures nearly flat
Activity index was at 300 earlier this AM, but at 9am is now at 100
30bars at 10am
60bars @ noon:30
90b@ 3pm
Neg energy during the noon hour
Frustrated agression today
Power data indicates a bias lower today
Jay
TODAY WAS SKEWED UPWARD as is every day so far this year
CRUISIN FOR A BRUUUSSSIN - MARCH 10th is the deadline
but Feb 17 to 25 should set back some first
Jay
7 comments:
Okay the number is out.. and it stunk.. big time. They were looking for + 144K, and we got 38K. But they saved the day with the unemployment rate that fell from 9.4 to 9%. Then just to top it off, they blamed the weather for all the ills.
I can't make this up folks. We only created 50K private sector jobs, but somehow the unemployment rate, for millions of folks, fell almost half a percent? Oh my.. that right there is some funny stuff.
Now.. here's the question. Do we simply go higher and higher and higher and higher? My guess has been that we're close to a rapid steep pulldown. I still believe that. Even if they want to push this market to DOW 15000 on Benji money, there's going to be a day when Wally decides to fleece the sheep for a bit. I still think that fleecing comes soon, like next week.
I could be reading this all wrong and we do just go straight up for another 5 months. It wouldn't really surprise me. there's never been a time when the Central Bank freely admits he's pushing billions to Wall Street every day. But in the long run it doesn't really change anything. When this Fed bubble breaks, it's going to make the housing bubble look lame.
the dollar started a multiweek rally (target 88ish) so this will put the stock under pressure. dollar completed 5 waves up, so it will need some correction before ripping higher. this might give the stocks the opportunity to pop today or early next week. let me know your thoughts.
sincerely
cementzak
zak - good plan.
thanks for feedback, Abdullah.
have a good one.
sincerely,
cementzak
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