Unemployment claims drop big, waiting for next week's revision up, and market jumps up. S&P finally got over the 200 day for literally a minute and then smacked right back down by ECB rumors. US markets are still run by Europe and waiting for this weekends answer.
Tuesday, December 6, 2011
S&P ran up to the 200 day and then downgrade warnings on basically everybody in Europe and failed 200 day breakout attempt #1. Really it's just wait for the weekend and see for save Euro conference #140, there's as many of these as UFC fights. Chart wise we're looking like a failed upside breakout attempt this morning, but it is December and everybody loves a Santa Claus rally.