The improving trend in initial claims supports the claim that the pace of layoffs is slowing. Unfortunately, the pace of hiring isn't picking up.With employment considered a lagging indicator, though, the improving trend in initial claims is apt to take precedence for the market, which has embraced the idea that the economy has bottomed out.
Anyone else cheering this data? Can we claim the worst is over? Personally I would pray so....continuing claims continue their upward march.....we arent even close to 300,000 per month...then we cheer.
With pomp hype and cicumstance we could see the 200 EMA's in play....will "smart" money who made EASY money cash out or continue to ride this thing? Will that fabled "sideline" cash feel left out and rush into an overbought market?
D
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