SP 500 and NDX Futures Daily Charts

We had a little follow through today as the market shook off the weak US GDP number and the continuing problems in Europe.

Next week on Friday is the April Non-Farm Payrolls report.

It is well worth listening to this interview on the US economy by Richard Yamarone on King World News.

There will be no sustainable recovery until the system is reformed.  Stimulus will not work because it is being applied to a broken system that is misallocating wealth and resources.

But austerity is even worse. Promoting austerity without significant economic reforms  is quackery.  It benefits those who took the most during the fraud of the financial bubble and its associated frauds, and punishes the innocent and the victims.