Fast Facts

Initial Claims Show Employers Are Still Asleep So Payrolls Should Beat Consensus

Initial Claims and Stock Prices

The stock market broke, but initial claims are still at record levels. This is how it has historically works as bubbles start to deflate. Employers are the last to get the news. But the very fact of their record long term ebullience was warning enough, as I have repeatedly chronicled here over the past year. For now, though they still…

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This Is Not A Retest—-Its A Live Bear!

brazil-central-bank-balance-sheet

According to the talking heads Tuesday was just a bull market “retest” of last week’s lows, which posted at 1867 on the S&P 500. As is evident below, the test was passed with 80 points to spare at today’s close. So according to the bull heads—–CNBC had three of them on the screen at once about 2pm—–its time to start nibbling…