Exponential Moving Average Lines
Simple Moving Average Lines
I am unclear what rallied the markets yesterday, when I got on the plane the Dow was down nearly 200, and I see 75% of that was reclaimed by the end of the day, despite breaking both the 20 and 50 (exponential) day intraday. [perhaps it was a bounce off the 20 day simple moving average?] Other than Ben Bernanke repeating the same dog and pony show for the Senate that he did for the House, I could not find any specific reason for celebration after a weekly claims figure of nearly 500,000 this *deep* into the
Frankly with census jobs ramping up, the data should be skewing to the upside as 1.3M people suddenly find themselves with work, rather than going the other way. Hence, while the weekly jobless data is volatile and you can't read too much into any 1 week, the fact it is ramping back to near 500K in any week, even as many of the unemployed now are turning into census workers, says a lot about the "recovery".