briefing.com has daily economic data......job "losses" better than expected.....90,000 SERVICE jobs added, huge manufacturing job losses....CNBC heralding the results FUTURES JUMP GREEN!!
The breach above of 80.00 in the US $ index broke a Head and Shoulders formation, US $$ could fall to 40.00 (distance from neckline 80.0 to head 120.0 than subtract from 80) BUT not uncommon to TEST break....this could cause falling commodities, unwinding of that speculation and BACK into equities.
Lasr Fri I put 50% of my 401K cash in to equities....will avg in each week, holding back other 50% for confirmation Bear is dead...or to buy at new lows.
FED has gone ALL OUT to rescue the markets, it may have succeeded....for now.
Recent chart showing price above 20 month moving avg is important......see if BROAD BUYING COMES IN looking for 90% upside volume today for more confirmation some kind of low is IN.
Duratek
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