Yes that is right peter600 the jobs data is a lagging indicator, however they are still loosing jobs a great rate and until it subsides we have no recovery...only we may have found a bottom....and that is MAY in caps.
Things can easily turn back the other way and we would then be looking at a W shaped recovery, which would mean it would take a lot longer for things to get better.
In a technical world, most markets are well due for a rest and should retrace in the near term...I think 947 on the S&P500 and 8852 on the DOW....
But I can't help seeing that GAP on the S&P500 @ 905 screaming out...FILL ME PLEASE, FILL ME.....every other gap has been filled.....:)
closest to the pin 05/08/2009, page-61
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