Home > Uncategorized > Market Alert: 2010/02/05: GENERAL FUNDAMENTAL INFLUENCE: RELATIVELY SANGUINE EQUITIES REPORT RESPONSE STILL BEARISH

Market Alert: 2010/02/05: GENERAL FUNDAMENTAL INFLUENCE: RELATIVELY SANGUINE EQUITIES REPORT RESPONSE STILL BEARISH

▪  Equities failing to push above key resistances and Tolerances reviewed once again in this morning’s TrendView  BRIEF UPDATE (http://bit.ly/dn0BFj) (and its link to the previous analysis in Wednesday’s GENERAL UPDATE) reinforces the bearish trend… with BLS annual benchmark revision to the Current Employment Statistics (of regular monthly US Employment reports) was over an additional  1.4 million jobs lost against a preliminary number of minus 824,000,…

▪  Yet there was another equally disturbing aspect of this morning’s US Employment report that is not garnering much attention in the wake of the massive annual benchmark revision: the significant downward revision to what was already a miss to the downside for December.  85,000 jobs lost in December was already a downside surprise compared to its previous estimates for roughly 20,000-40,000 fewer jobs. That has now been revised downward to a loss of 150,000 jobs, which is more than a bit disturbing on several levels.

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