Thursday, February 02, 2012 Stock Market Commentary:
Stocks and a slew of other risk assets were relatively quiet ahead of Friday’s much anticapitated nonfarm payrolls report. From our point of view, the major averages confirmed their latest rally attempt on Tuesday 1.3.12 which was Day 9 of their current rally attempt. It was also encouraging to see the S&P 500 break above its downward trendline and its longer term 200 DMA line. Looking forward, the S&P 500 is doing its best to stay above its Q4 2011′s high (~1292) and now has its sights set on its 2011 high near 1370. In addition, the bulls remain in control as long as the benchmark S&P 500 trades above 1292 and then its 200 DMA line.
Stocks Quiet Ahead of Jobs Report:
On Wednesday, stocks and a slew of other risk assets were relatively quiet as the world awaited Friday’s jobs report. The economic and earnings data on Thursday was nothing special. Before Thursday’s open, the Labor Department said weekly jobless claims slid by –12,000 to a seasonally-adjusted 367,000. This bodes well for last month’s jobs report which analysts now believe U.S. employers added 150,000 new jobs with the unemployment rate remaining unchanged at +8.5%. A separate report released from the Labor Department showed that U.S. nonfarm productivity rose at a +0.7% annual rate but just missed the Street’s estimate for a gain of +0.8%.
Market Outlook- New Rally Confirmed
Risk assets (stocks, FX, and commodities) have been acting better since the latter half of December. Now that the major U.S. averages scored a proper follow-through day the path of least resistance is higher. Looking forward, one can err on the long side as long as the benchmark S&P 500 remains above support (1292). Leadership is beginning to improve which is another healthy sign. Now that the 200 DMA line was taken out it will be important to see how long the market can stay above this important level. If you are looking for specific help navigating this market, feel free to contact us for more information. That’s what we are here for!
Host Of The #SmartMoneyCircle Podcast, Founder and CEO of 50 Park Investments. Adam provides weekly market updates to ChartYourTrade.com readers. He is a FORBES Contributor and is a frequent guest on all the major financial media outlets.
Claim Your Free Guide Today
Give us your email and we will give you the tools to change your life.
Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.
Stocks Quiet Ahead of Jobs Report
Thursday, February 02, 2012
Stock Market Commentary:
Stocks and a slew of other risk assets were relatively quiet ahead of Friday’s much anticapitated nonfarm payrolls report. From our point of view, the major averages confirmed their latest rally attempt on Tuesday 1.3.12 which was Day 9 of their current rally attempt. It was also encouraging to see the S&P 500 break above its downward trendline and its longer term 200 DMA line. Looking forward, the S&P 500 is doing its best to stay above its Q4 2011′s high (~1292) and now has its sights set on its 2011 high near 1370. In addition, the bulls remain in control as long as the benchmark S&P 500 trades above 1292 and then its 200 DMA line.
Stocks Quiet Ahead of Jobs Report:
On Wednesday, stocks and a slew of other risk assets were relatively quiet as the world awaited Friday’s jobs report. The economic and earnings data on Thursday was nothing special. Before Thursday’s open, the Labor Department said weekly jobless claims slid by –12,000 to a seasonally-adjusted 367,000. This bodes well for last month’s jobs report which analysts now believe U.S. employers added 150,000 new jobs with the unemployment rate remaining unchanged at +8.5%. A separate report released from the Labor Department showed that U.S. nonfarm productivity rose at a +0.7% annual rate but just missed the Street’s estimate for a gain of +0.8%.
Market Outlook- New Rally Confirmed
Risk assets (stocks, FX, and commodities) have been acting better since the latter half of December. Now that the major U.S. averages scored a proper follow-through day the path of least resistance is higher. Looking forward, one can err on the long side as long as the benchmark S&P 500 remains above support (1292). Leadership is beginning to improve which is another healthy sign. Now that the 200 DMA line was taken out it will be important to see how long the market can stay above this important level. If you are looking for specific help navigating this market, feel free to contact us for more information. That’s what we are here for!
Here are more articles you may like
Общий Обзор Гама Казино
Обзор Гама Казино – основные аспекты и функции игровой платформы Запрыгните на волну разнообразия развлечений,
1xbet Mobil Android Ve Ios Için 1xbet Uygulamasını Indirin, Mobil BaşlanğıcMövsümün ən yaxşı oyunları üçün
Unlim Casino (Анлим Казино) 2024 — Официальный Сайт
Официальный сайт Unlim Casino 2024 — ваш путеводитель в мир азартных развлечений Игровая платформа 2024
Adam Sarhan
Claim Your Free Guide Today
Give us your email and we will give you the tools to change your life.
FREE 7 DAY EMAIL COURSE
Learn about Early Entry Points & much more...
© ChartYourTrade | Contact us: website@chartyourtrade.com
Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.
Charts and Data are courtesy of MarketSmith Incorporated. Join MarketSmith here.
Terms of Service