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April Jobs Report: 165,000 New Jobs; Unemployment Rate Falls to 7.5 Pct
Estimates were looking for +155,000 and 7.6% unemployment rate.
Stocks rallied strongly on Thursday as volatility continues and the Dow posted another triple digit move. Yesterday it was a 131-point gain, which followed Wednesday's 139-point decline.
TSP Talk Sentiment Survey results for the week of 5/06/13- 5/10/13
Buy: The TSP Talk Sentiment Survey came in at 43% bulls, 48% bears, for a bulls to bears ratio of 0.90 to 1. That is a buy signal in a bull market which means the survey system will remain in a 100% S fund allocation for the week of 5/06/13 - 5/10/13.
Bull market rules have been in effect since the week of 1/09/12:
See latest survey results
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Stocks opened lower yesterday and the market continued its slide most of the day. There was a brief post Fed policy announcement rally, but the decline resumed and the indices closed near their lows. The Dow lost 139-points
Today SPX put in a twin top at 1597. However, the short term RSI and MACD are showing negative divergences, as seen on the hourly chart, and the stochastic is overbought as well. The second chart shows the summation indexes in the daily timeframe; NY Summation Index as dotted line in the main panel and the NA Summation Index as a solid line in the same view. While the MACD has flashed a buy signal several days ago (vertical green line to the far right), there is overhead resistance as seen by