08 January 2015

SP 500 and NDX Futures Daily Charts - First of the Year Roller Coaster, Say What?

Stocks were on a tear higher today despite the worse than expected unemployment claims.

The pundits were talking about 'oil stabilizing' as given a boost to stocks, and the foolishness of the first few days of the year correction, but in reality it was the reassuring words from the Fed head last night that the money spigots would remain open, never fear.

Tomorrow is a Non-Farm Payrolls report. The consensus of economists says 240,000 jobs added for the big headline. I am sure the trade will take its cue from this, and it will be interesting to see how they will interpret a better or worse than expected number.

It is pretty pathetic really, watching adults have these histrionic discussions on Bubblevision.   The financiers will never see it coming, again. 

Have a pleasant evening.