claydoctor

SPX500 Fuzzy math jobs report

Short
FX:SPX500   S&P 500 Index
2
Great jobs report... Really? It was the weather? GDP now stronger than ever, and forward guidance miraculously revived. Charts say otherwise. Maybe it was Barnum or was it Bailey, who said, there is a sucker born every minute. UK has a surprise business as usual election result, and Greece solution has hope? Really? All is well, all is well. SPX500 is at least range bound, heading back down next week to the (red) channel TL. Let me just say, the only strong real number out of today's report was the construction jobs, because they were the only job created that was NOT part time or at minimum wage or a unreal (falsely reported) government job. And none had benefits or health insurance. And once this quick heat to the housing market cools, because of the threat of mortgage rate hikes, those construction jobs will be gone. So those are temp jobs at best. But for today, the kool aid was sipped. Still short, big time. Just of matter of when not if.
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