Market Weather & Tea Leaves

[Mike]

imported post

tsptalk wrote:

Mike wrote:

Good data tomorrow will trigger that, and that's what I believe we shall get.

The estimates are for ~ 225,000 new jobs. Remember too high or too low (+/- 50,000) tends to hurt the stocks in the days ahead. The closer we get to that number, the better for the market.

I think we'll come pretty close to expectations. The weekly initial filings for unemployment have been coming in low for awhile now. I take that to be a good sign.

Unfortunately, oil broke the head and shoulders pattern you thought might be developing awhile ago. The only good thing I see in this is that the continuing high prices will lead to more exploration which should help the supply situation down the road (but it won't do much for us in the short term).

People really misread the OPEC comments. The guy said that $80 oil was "a weak possibility" - and mentioned that it had to be tied to a major and persistent supply disruption.

 

[Spaf]

imported post

March3 Closing

Weather: Hint of $80 oil sends market into convulsion, job report due tomorrow.

Charts:Closure in upper level of trading range (3rd day in 1210 area of S&P). Patterns show both bullish and bearish reversals each of past two days. Money, strength, moving averages holding in positive range.

Tea Leaves: No breakout yet. Caution: market remains in trading range.

Remarks: Holding 50-50 neutral. *


*Transferring to G-fund, due to Monday vacation status.

 

[Spaf]

imported post

March3 Closing

Addendum: Bear talk: Please get us out of this range thing. I can't hold it much longer!

 

[Guest]

imported post

Here is how you have to be in these markets:

[align=center]

[/align]
Able to dance and change your step at amoments notice. Hee

 

[Spaf]

imported post

March 4 Opening

10.30 CT Ah relief! Finally!

But here comes that dreaded oil! Give us a break!

 

[Spaf]

imported post

March 4 Afternoon

At 12:50 CT
Well it looks the market will hold. S&P at 1222.07 +11.66
Whew! Oil didn't spoil the day: $53.25 -0.32

Finally, a breakout to reclaim theprimary movement as bull. :^



Heading home! See ya Tuesday. Good weekend to all.

Rgds.

 

[cowboy]

imported post

Spaf wrote:

March 4 Afternoon

At 12:50 CT
Well it looks the market will hold. S&P at 1222.07 +11.66
Whew! Oil didn't spoil the day: $53.25 -0.32

Finally, a breakout to reclaim theprimary movement as bull. :^



Heading home! See ya Tuesday. Good weekend to all.

Rgds.

MOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!! Watch out looks like it has some hooks on it's head.