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Oew
June 06
weekend update
REVIEW
Market rallies to new uptrend highs (SPX 952) on deceleration of the recession and economic news. During the week reports from ISM manufacturing and services displayed a slight improvement in their contraction. Pending home sales, Factory orders, Construction spending and Auto sales all displayed modest gains. The weekly Unemployment claims were steady at 600K+, monthly job loss contracted to 350K, but the employment rate rose to 9.4%. For the week the SPX/DOW were +3.2%, and the NDX/NAZ were +4.1%. Bonds fell 3.0%, Crude rose 3.2%, Gold was -2.5%, and the USD gained +1.8% versus losses in both the Euro (-1.3%) and the Yen (-3.1%). The Asian markets showed goods gains (+3.5%), but both Europe (+1.7%) and the Commodity equity markets (+1.1%) lagged...
Tags: technical-analysis
