Incredible action in the futures.
When this news came out at 8:30AM, the futures immediately tanked some 6 points or so, only to rally violently higher as soon as the machines opened up at 9:30AM.
This entire market is run by the machines. They are trying to suck people in, that is what Ponzi Schemes do and how they operate.
They want more buyers to come in so that Goldman can sell to them at such high prices that when prices eventually fall, won't hurt the scheme operators.
US Initial Jobless Claims rose by 15K to 576K last week. This is the 3rd week in a row this figure has been higher. That is what is called a trend my friend.
More and more companies are paring staff, because this is what Wall Street wants to keep earnings afloat.
The four-week moving average of initial claims, a less volatile measure, climbed to 570,000 last week from 565,750.
The market right now is not trading on any type of fundamentals what so ever. Its all machine motivated technical momentum investing.
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