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Thursday, January 27, 2011

Thursday Updates!!!

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This mornings price action across the board is flat, to boring even though all the reports that came out this morning were decisively negative, Chicago Fed National Activity Index had a reading of 0.03 versus the expected 0.11, initial jobless claims were 454,000 versus the expected 405,000, continuing claims were 3.99M versus the expected 3.87M, Durable Goods orders were down 1.3% versus an expected increase of 1.5%, and the core reading was up 2.4% versus an expected increase of 0.9%.
The Equities remain in over-bought conditions, but until we get a decent pull-back, the trend remains up.

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