Thursday, June 03, 2010

MARKET WRAP

Right there at the 200 EMA, Friday action may be telling. I am expecting a RAMP attempt from the boxes. GS has been saying they expect a print of 600,000 jobs now not the 500,000 they had estimated.

Can I point out they also say 450,000 of those are "census" hires !!! SO in the real working world 150,000 is the private sector contribution......doesn't that just light your fire?

VOLUME CONTINUES TO SLIP AWAY DURING THE RALLIES AND surge DURING THE DECLINES, SORRY THAT AIN'T BULL MKT ACTION.

It wouldn't shock me to see the Dow rise to 10,750 area where I had showed a left should had formed, this would complete head and shoulders, just one potential.

They could tell me 1 Million jobs were created......I don't see the economy as the bulls do.....and I ask around.

*That said, today masked buying in the broader indexes, we will be watching the VIX to measure volatility and breadth of any add on advance......they will run with any upbeat employment data, manipulated lying through their teeth or not
D

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