9:20AM – Visualization of the employment situation:
8:37AM – Wow, those numbers really sucked (-598K/+7.6%). We lost a total of about 3.6 million jobs since the recession started in December 2007, FYI.
Here’s WSP to make you feel better:
[youtube:http://www.youtube.com/watch?v=hKg2doksrzk 450 300]
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We are at a critical juncture at the moment. The market was creating a flag all day yesterday right above the 20-day MA. It’s obvious that the Employment Situation and/or the Senate vote on the stimulus/bank plan will be the catalysts that will allow the market to exit from this month long symmetrical triangle.
At this point, it looks like it’ll be an upside breakout. Many financials are showing reversal signals, such as hammers/doji, and those signals are supported by massive volume, e.g. BAC. If the financials lead the market, then we definitely go higher. Keep in mind the following levels on the SPX:
Support: 820, 815, 805 = total breakdown.
Resistance: 850, 855, 860 (30-day MA), 867 (50-day MA), 875.
yup, look like market wants to go up on bearish news to squeeze maximum shorts! Oil look like to be only the real deal, falling before the number and still falling after number… good, take the equity market up bulltards and then get slaughtered!
I fuckin love this dude
I’ve got enough ranting in my life, thanks.
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great trailer park episode….
Ya love that dude! Great Video! Just not sure what he meant at the end of video where he say “devalue” the dollar where milke cost $0.5 and new car cost $8000. That’s deflation, not devalue the USD right? if you devalue USD you have inflation where milk will cost you $100,000? No? So I think he meant to say that let the economy dive and we go into a fucking depression where we have all price cheap but USD actually be going up. right?
“Stupid fuckers” are the majority of the U.S. population, so this guy, who seems to have a grasp of the problems we face, might be able to get through to them. He speaks their language. Keep talking, you’re our new leader. Really, Bush and Obama both went to the top spouting BS. Call us to action at the voting booth. Get rid of both sides, Democrats and Republicans. They’re all the same.
I understand how this guy might be some people’s hero…
…but he is kind of annoying…
Hi John, I’m looking for an intraday pullback in the Q’s-That’ll put a drag on the market–
Here’s a CSCO chart ( red arrow -green arrow), which by the way, doesn’t support my Q pulls back on Monday theory.
http://zstock7.com/?p=518&disqus_reply=6065200#comment-6065200
cool
You ought to run for President along with Joe the Plumber! You got the straight story on this one!