Friday, February 6, 2009

Suprise, Suprise, Jobs Data Much Worse Than Expected

Good morning! I woke up this morning hoping that today would be just as great as yesterday for my portfolio. If you didn't watch the video last night (which is still below) then missed an amazing day for members and I as some of our longs were up over 16%! Of course I'm not bull-headed enough to think that will happen again today, but you never know what this market will throw at you. Since the jobs numbers came out a little while ago, futures have been shaky to say the least. I think its amazing that almost half of the jobs loses came in the last 3 months of 2008. Regardless, I remind everyone not to get caught up in the news and watch the charts. As has always been, the charts price in all the possible information and expectations in the market which gives us a clearer picture of market direction than anything else out there. Here's your S&P intra-day support and resistance targets.