Asia is getting clobbered full retard style. Korea is down 3% and the Nikkei is down 2%.
Comments »FLASH: US and European Futures Are Sharply Lower
Current 9.8% Pullback Is Third Largest Since March 2009
Bill Luby summarizes what he considers to be all the significant pullbacks since the bottom in 2009. He also includes a very helpful graphical overview of the same data.
Read the article here.
Comments »Biggest ETF Winners This Week
Biggest Losers This Week
Markets Close Out on the Lows Praying for QE and ECB Euro Printing Action
Global PMIs confirmed the global economy is hovering just above recession territory. Our economy being the strongest and most hopeful took it on the chin with horrible employment data today. As a result we sold off just below the 200 day ma and await some sort of hopium call from central banks this weekend.
Gold spiked on the bad news and treasuries saw new rock bottom low yields.
DOW DOWN 280
S&P DOWN 32
NASDAQ DOWN 79
OIL DOWN $3.25
GOLD UP $59
[youtube:http://www.youtube.com/watch?v=AmzaITUHYMg 450 300]
Today’s Heat Map and A/D Lines
Market Update
Markets have just touched down on new lows for the day. Gold is looking good. The dollar is strong and the Euro has managed to hold its recent gains into the green zone.
The Fly had it correct this morning when he said the market will crash on Monday if no solution is had by Sunday to solve the European debt crisis. For now we remain at the 200 day ma and await a hit of hopium from central banks.
[youtube://http://www.youtube.com/watch?v=AzqiPvGrkTo 450 300] Comments »European Markets Close With Knife in its Skull
Global PMI Data Confirms The Shit is Hitting the Fan
Here is a round up of global PMI data points that show clearly where the global market is headed…
Comments »ISM Index: Prior 54.8, Markey Expects 54, Actual 53.5
Rail Traffic Still Shows Growth in the U.S.
“Carloads and intermodal rail traffic are both showing growth this week after some mixed results in recent data. Carloads posted a 1.3% year over year gain while intermodal continued to show relatively good growth at 4.3%. The breadth of the growth was a bit better this week with 16 of the commodity groups showing gains. Coal continues to drag on the overall data. The 10 week moving average for intermodal was flat this week at 3.3%. More details on this week’s data are available via AAR:”
Comments »FLASH: ITALIAN AND SPANISH YIELDS DROP, DESPITE PANIC
FLASH: SPAIN YAWNS OFF MARKET CALAMITY
Gapping up and Down This Morning
Non Farm Payrolls: Prior 115k, Market Expects 150k, Actual 69k…
World Markets and U.S. Futures Kill The Risk Off Trade
South Korea PMI Confirms More Manufacturing Slowdown
S.K. joins China is hovering just above 50 which is technically the line between recession and well lumpy growth these days.
Comments »Aussie Dollar Says Risk Off as it Nose Dives Off China PMI Data; Nikkei Gaps Down 1%+
See Through the Spin and Know Where the Global Economy is Headed
When BI commented it was a busy 48 hours for data; THEY WERE NOT KIDDING. Global PMI releases are coming at you. HARD COLD FACTS on the health of the global economy.
The article is a bit premature as 90% of the data will not be in till 11am tomorrow, but this is a link you will want to refresh, as the data comes in, in order to see through the spin of media on the state of the global economy.
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