Thursday 8 March 2012

A miss in the weekly Jobless Claims put a dampener in today's US market

Dear Friends,

Today before Jobless Claims report came about, Dow Jones pre-opened at positive 90 points. However as this week Jobless Claims is more than expectations, acutal is 362k vs forecast of 352k, meaning more people looking for help from government because of no job.

This puts a dampener in today's market. Now Dow moving sideways. Don't expect it to be strong today.

Avoid the market today.

Some of you ask me, "Daniel, what do you think of 2moro Jobs reports?"

After studying the trend of Jobless claims and this month's forecast, I tend to think there is a higher chance of 2moro's Jobs report to beat expectations. Of course, as a trader, I normally would like to see the actual results first before making the move. This is just a prediction as I studied the chart of Jobless Claims last month. It seems to beat expectation every week, hence indicating Jobs number might be good.

But for those with positions at a loss, I suggest wait for 2moro's night US results. If good, market may rally a bit.


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