Thursday, 31 January 2013

It is a boring day as the world awaits the FRIDAY reports!

Dear Friends,

2day is a really boring day as the world awaits the mega reports this friday. US market is almost stagnant now. Btw, do expect 2moro Asia market and US market to be dull as well. And there might be a little profit taking before Friday.

As Dow is approaching the all time high, we need a catalyst to breakout of the all time high. Will this friday's reports be enough for it? Or will the reports be pulling the stock market down instead.

This Friday will have a double whammy mega reports with the jobs reports and the manufacturing reports. Non-farm payroll is the key to watch out for. For now, after a research, we do not think that non farm will be bad. We should expect something that is up to expectations or even better.

For manufacturing, look towards the ISM. If these 2 are good, expect a push further into February as the earnings euphoria starts to wear off. Remember that we have said that we predict February would be a crucial month. We expect a peak to be reached in Feb followed by a sideway month.

Just be very careful in March. We expect latest, beginning of April to have a downturn.
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However having said that, if jobs reports are bad on friday, this process may be escalated. Let us look closely into Friday's mega reports!


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