Market Talk / Dec. 3 - 9

[weatherweenie]

08:30 am : S&P futures vs fair value: -1.5. Nasdaq futures vs fair value: -6.0. After briefly paring their losses, with recently released employment data easing concerns about the strength of the U.S. economy, the validity of the data in question and further deterioration in Treasuries has pushed futures indications back toward morning lows. Within the last 15 minutes the monthly ADP employment report showed that an estimated 158,000 new jobs (170,000 nonfarm jobs) were created in November. Economists expect Friday's more closely-watched and well-established nonfarm payrolls figure to check in around 105,000.

 

[Show-me]

And there goes the I fund and the USD.

 

[Birchtree]

I'm starting to feel like Smarty Jones - my hoofs are getting tender from all this bullish running. I'll try and endure 'cause there is more distance to go. Jingle Bells.

 

[fedgolfer]

"Within parallel channels and the converging lines of diagonal triangles, if a fifth wave approaches its upper trendline on declining volume, it is an indication that the end of the wave will meet or fall short of it. If volume is heavy as the fifth wave approaches its upper trendline, it indicates a possible penetration of the upper line, which Elliott called “throw-over." Throw-overs also occur, with the same characteristics, in declining markets."

We shall soon see, won't we?!

 

[pointman72]

Sounds to me like the navy is providing air support for the next operation and everyone know its going to fall short on my position and the enemy is going to pentrate my defenses.

Someone get me some lift capabilities, I'm out of here!

 

[Birchtree]

The 20 week cycle due around 12/12 can be quite tricky at times especially when its fighting the 1st quadrant advances of both the bigger 40 week and 4 year cycles as they have their greatest amplitude right now. Keep the amplitude what I need is altitiude.

 

[fedgolfer]

Doji in the S fund... there's a change blowin' in the wind.

 

[Spaf]

Daily Yak

The Kingdom of TSP
Daily Edition
December 6, 2006 Closing ​

Yak, Doodles, & Tea Leaves

Kingdom Yak:
Pro-Yak....................................The resilency of the market is amazing, not having to fight lube is a plus!

Con-Yak...................................Mr. Market has been running in the over-bought areas, but we have a slight break!

Jester-Yak................................Bears: 46, Bulls: 54.

Doodles:
TSP Socks leader........................I-fund
Last 12 months..........................up 28.20%

Socks [EFA] Closed at.................73.08 dn -0.16
Stops.......................................Alert: 72.54. Trail: 71.84
MACD hist.................................+0.118, decreasing
Trend (P-SAR)............................positive.
Overbought/sold (RSI).................[70] 67.62 [30] decreasing!

$USD........................................82.77 up +0.30

Lube (NYM) Closed at..................62.19, dn -0.24
Oil Markers................................<70= ok, 70-75= worry, >75= panic.

Tea Leaves:
Yakndoodles...............................Green.

 

[Birchtree]

Ho, Ho, Ho, the SPX rally from March '03 went up 47%, the current SPX rally has only gone up 15% so far, I'm betting there is a lot more to go. A multi-year bull market needs corrections to reinvigorate itself. It takes creativity to stay long....don't it?

 

[weatherweenie]

08:00 am : S&P futures vs fair value: +1.6. Nasdaq futures vs fair value: +2.8.

 

[weatherweenie]

The number of newly laid off workers filing claims for unemployment benefits dropped last week by the largest amount in six months, relieving worries about a big jump in claims in the previous week.
The total number of claims filed last week fell to 324,000, a decline of 34,000 from the previous week, the Labor Department reported Thursday. That represented the biggest one-week drop since the first week in June.
The decrease was in line with expectations of economists, who believed that an unexpectedly large jump of 35,000 claims the previous week was an aberration.

 

[weatherweenie]

09:00 am : S&P futures vs fair value: +2.7. Nasdaq futures vs fair value: +3.5.

 

[Birchtree]

Get the sleigh ready - we have a new all-time high on the DJIA on an intra day basis. A prelude for tomorrow? The top S&P sector performance following CBOE VIX's Dec'93 move below 10 were the financials and tech with energy as a follow on. Snort.

 

[ATCJeff]

WOW! This market is unbelievable.

 

[Oldcoin]

Get the sleigh ready - we have a new all-time high on the DJIA on an intra day basis. A prelude for tomorrow? The top S&P sector performance following CBOE VIX's Dec'93 move below 10 were the financials and tech with energy as a follow on. Snort.

If we get a good jobs report tomorrow, which has been rumored today, tomorrow could be very good indeed.

 

[fedgolfer]

... or it could be sell the news since equities are topped (although I is showing a throw/breakout). Coincidently, F fund will hit a buy at its lower trendline if it closes at the current -%.

 

[sugarandspice]

The Bush and Blair confidence game is on right now. Spinning and spinning and going nowhere.

 

[Birchtree]

I thought they were both genuine leaders and staunch in their objectives.

 

[VirginiaBob]

I thought they were both genuine leaders and staunch in their objectives.

I agree, some people are just overcritical of everyone else's ideas, yet have no ideas of thier own.

 

[sugarandspice]

I thought they were both genuine leaders and staunch in their objectives.

....to a fault.

The objective they are trying to change has generational roots embedded into it. They/we are not going to change it with a 1/5/10 year "war".