Today’s Golden Sunrise:
April is beginning with a very positive session in Asia, following a spectacular March. Europe is trading up sharply and US futures are up as well and have risen further after the release of the weekly jobs report.
The big report will be the monthly jobs report released tomorrow with the market closed for the Easter Week-end. The preliminary projections are for job creation in the 200,000 range with Goldman Sachs projecting 275. The estimates seem to range between 100,000 and 400,000 with some kind of an economic adjustment for the many hires of short-term census workers.
As a point of reference, I ran a simple chart on the Dow with a Fibonacci projection of where this might go-this is a monthly chart with the Fib calculated from the Oct, 2007 highs to the March, 2009 lows. Huge range but the key .618 level is another 400+ points higher.
The S&P, if this theory holds, would push to 1228.
That said, these results are so extraordinary, that they almost defy logic and reason. When you get to these levels, the upside is only 3.5% from here.
|
Market |
LDFeb |
LDMar |
ChangeMon |
%changeM |
|
Japan-Tpx |
894.1 |
978.81 |
84.71 |
9.474% |
|
HongKong |
20,609 |
21,279 |
670 |
3.251% |
|
Shanghai |
3052 |
3109 |
57 |
1.868% |
|
Taiwan |
7436 |
7920 |
484 |
6.509% |
|
South Korea |
1595 |
1693 |
98 |
6.144% |
|
Australia |
4638 |
4876 |
238 |
5.132% |
|
Singapore |
2751 |
2910 |
159 |
5.780% |
|
India |
16,430 |
17,609 |
1179 |
7.176% |
|
|
|
|
|
|
|
UK-FTSE |
5350 |
5680 |
330 |
6.168% |
|
Germany |
5598 |
6154 |
556 |
9.932% |
|
France |
3709 |
3974 |
265 |
7.145% |
|
|
|
|
|
|
|
|
|
|
|
|
|
DJIA |
10,742 |
10,857 |
115 |
1.071% |
|
S&P500 |
1104.49 |
1169.43 |
64.94 |
5.880% |
|
NasComp |
2238.26 |
2397.6 |
159.34 |
7.119% |
|
NDX100 |
1819 |
1958.34 |
139.34 |
7.660% |
|
R2000 |
628.56 |
678.64 |
50.08 |
7.967% |
|
NYSE |
7035 |
7448 |
413 |
5.871% |
|
Tran |
4135 |
4375 |
240 |
5.804% |
|
Util |
367 |
379 |
12 |
3.270% |
|
|
|
|
|
|
|
Canada-TSX |
11,630 |
12,030 |
400 |
3.439% |
|
TSX Venture |
1531 |
1577 |
46 |
3.005% |
|
Brazil |
66,503 |
70,372 |
3869 |
5.818% |
|
|
|
|
|
|
|
Gold |
1118.3 |
1113.3 |
-5 |
-0.447% |
|
Silver |
1650 |
1752.6 |
102.6 |
6.218% |
|
Copper |
326.85 |
355.35 |
28.5 |
8.720% |
|
Crude Oil |
79.66 |
83.33 |
3.67 |
4.607% |
|
Natural Gas |
4.813 |
3.886 |
-0.927 |
-19.260% |
|
CRB Index |
270.87 |
273.34 |
2.47 |
0.912% |
|
|
|
|
|
|
|
$index |
80.44 |
81.29 |
0.85 |
1.057% |
|
Euro |
1.361 |
1.3497 |
-0.0113 |
-0.830% |
|
Yen |
1.1253 |
1.0705 |
-0.0548 |
-4.870% |
|
|
|
|
|
|
|
VIX |
19.5 |
17.59 |
-1.91 |
-9.795% |
|
VXN (Nas) |
19.16 |
18.32 |
-0.84 |
-4.384% |
|
VXV (S&P) |
21.65 |
19.92 |
-1.73 |
-7.991% |
|
RVX(R2000) |
22.61 |
22.76 |
0.15 |
0.663% |
Enjoy the ride. Don’t miss your exit point.
JohnR
Goldensurveyor.com
Golden Sunrise is the Golden Surveyor’s broad-based market and world view.
Written daily 4am-7am by markets information specialist GS John
