Continued weekly claims at 400,000 or above continues, the explosion of corporate profits brought about by FED 0% rate policy and lowered head count IMHO has topped.
In the end, corporate profits are better served investing back into the company and in human resources instead of for stock buy backs. The buy backs lower the # of shares outstanding and make earnings look better making shareholders happy, making insiders cashing out even happier.
$ jumped higher this AM, on Euro weakness. Does weakness around the globe argue for a stronger market here? New lows in the 2 year yield suggest LOTS of smart money is being parked in saftey and goes against any action in a prior BULL MKT I've ever seen, it usually rises.
IMHO you have a stock market controlled by players, big houses and good chance MOST are stuck LONG, really LONG, what happens when no one steps in to buy? ALL of these 90% down volume days and breaking of technical support along woth ST oversold readings suggest a relief rally should be near but also suggest a weak market and aging bull market,
Futures are pointing to weak open and a test of yesterdays reaction lows....THERE we will know much more.
D
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