Unemployment numbers were negative and retail sales were basically flat. Why does everyone seems surprised by this? The market does not shoot straight up because we are out of a recession. There are adjustments being made by the government, by companies, and most importantly by the consumer. Consumers are weary of the market but do not seem fearful. Supposedly there is 5-6 trillion dollars of consumer money on the sidelines. There is no panic selling but there is no ambitious buying either. The S&P is backing off a little but could still jump to 1145.00 levels. This is simply a technical level without any economic data or news as variables. Technology could be how this market moves forward as banking is expected to slump over the next few quarters.

This entry was posted on Thursday, August 5th, 2010 at 10:10 am and is filed under Financials. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.