i looked at today's nonfarm payroll job data, and last several weeks initial jobless claims data.
there are divergences between them.
initial jobless claims is highly $spx correlated.
nonfarm payroll is NOT $spx correlated.
the highly $spx correlated initial jobless claims implies $spx should sharply plunge below 1100. yes, $spx below 1100, more than 200 $spx points below current level. i will cover this topic in the weekend report.
ps. pelican, in history, i think ben will be remembered as mr. transitory. that's the title i give to ben on the day of fomc news conference, lol
Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.