Things are deteriorating. Last Monday, I warned : " Friday, in addition to NFP, we have 3 Fed speakers – which makes me think the NFP report is going to be disappointing and they are lined up to spin it." The Non-Farm Payroll Report was indeed a disappointment, with only 199,000 jobs added in December, just 1/2 of what had been predicted by leading Economorons. It was, overall, the terrible week for the markets – especially the NASDAQ, which fell 1,000 points (6%) – 2/3 of the way to our predicted correction at 15,000. It will, however, be a sad state of affairs if the 15,000 line on the NASDAQ does not provide at least some support for a bounce. This stage, a weak bounce would be 200 points and the strong mounts would be 400 points – those are the tests we will be looking for this week. IN PROGRESS
Things are deteriorating.
Last Monday, I warned: "Friday, in addition to NFP, we have 3 Fed speakers – which makes me think the NFP report is going to be disappointing and they are lined up to spin it." The Non-Farm Payroll Report was indeed a disappointment, with only 199,000 jobs added in December, just 1/2 of what had been predicted by leading Economorons.
It was, overall, the terrible week for the markets – especially the NASDAQ, which fell 1,000 points (6%) – 2/3 of the way to our predicted correction at 15,000. It will, however, be a sad state of affairs if the 15,000 line on the NASDAQ does not provide at least some support for a bounce. This stage, a weak bounce would be 200 points and the strong mounts would be 400 points – those are the tests we will be looking for this week.
IN PROGRESS
