IF this and IF that...
#1
Posted 01 November 2007 - 08:31 PM
#2
Posted 01 November 2007 - 08:41 PM
http://www.ny.frb.or...mo/dmm/temp.cfm
#3
Posted 01 November 2007 - 09:07 PM
#4
Posted 01 November 2007 - 09:12 PM
#5
Posted 01 November 2007 - 09:32 PM
#6
Posted 01 November 2007 - 11:01 PM
#7
Posted 02 November 2007 - 01:13 AM
#8
Posted 02 November 2007 - 01:18 AM
Tomorrow is the payroll, this range will not last long, it is going to blast higher probably. In any case, a gap up is guaranteed. I just checked the ADP report and it is showing a gain over 100k.
Can't rely on that stuff... they can easily turn it into "fed will not hike with job gain this good".
Still, I would be surprised if some sort of pop wasn't in store. Some alternate count says if we hit bottom of wave 2, then wave 3 will start up with a gap.
The count I favor is that we are in wave C, which is now in wave 3 down (starting with today's gap). So tomorrow will give us a better indication of where its heading. As you've mentioned before, a drop below 1480 will likely convince many that this is wave 3 down. A gap up and run may convince me that its the start of wave 3 up.
#9
Posted 02 November 2007 - 11:14 AM
Edited by kisacik, 02 November 2007 - 11:16 AM.