Happy tax day! Please donate generously! Sadly your refund may not be in the form of cash. Wouldn't it be nice if we could pay them with IOU's. You better enjoy this one cause next year is really gonna suck (well, if you still have a job and are actually making any money)..
Jobless jumps, but thank goodness only another 424 thousand lost their jobs. Man, it could be a lot worse. This is great news. you know that at this rate by the end of the year averaging this same number only a few million more will be out of work. CNBC, if you are listening, as soon as Santeli was done speaking after the number was announced I turned your crap show off.
Earnings Calendar - GOOG after the close. BAC and GE before the open tomorrow
Economic Calendar - Jobs, worse than expected and knocked the minis down 3 to 1202.5. Huge day with many announcements including Philly Fed at 10, Natgas at 10:30 and housing market index at 1.
Pivot Points - Know 'em.
Well, you know what I think.Can they continue to pull rabbits out of the hat? The minis are set for their standard gap down open with the 30m working off being oversold. The minis and most indexes took out their upper resistance lines for the bull market corrective yesterday. You rarely hear anyone bitch about a market going up, but if they don't let this thing breathe soon, you might hear a little uproar. I guess they really don't give a shit. They have proven that they have the ability to take every bubble to the extremes and they are doing the same here. All hail the mighty bonus! To hell with the country, I need a third house in the Hamptons.
Not sure I can add anything to the post from the close yesterday, so if you want to see a chart or two, scroll down. If something should happen I'll be screaming and posting.
I'll add my 30m SPX. I bark about the 30m minis and the 30m SPX quite a bit. This is my main trading chart. SSO up and SDS down. I'll be waiting on the MACD to cross. I like the black TL at 83 as a target if it gets thru the red support line.The key is to remember to buy at the bottoms! Gotta play it both ways.
Dollar - got a pop overnight. but 30m is about to roll over. Should have more weakness here.
Natgas - Report at 10:30 today. Have your fingers on the trigger. Is the pop over? Was this just a pause before further weakness? It has been range bound for over a week now.
Oil - Might be rebounding. With all the talk about Israel and Iran teeing it up sometime soon I would not expect any weakness.
Gold - Should remain range bound leaning to more weakness
EUR/USD - oversold on the 60m, but you never know. One of the PIIGS could puke up a lung any minute.