Market comments for April 14th, 2011
Initial Jobless Claims rose unexpectedly last week to 412,000, going back above the 400,000 level many thought were in the rear view mirror. Also the PPI number for March came in at +0.7%, while Core PPI came in unexpectedly at +0.3%, causing more worries about inflation creeping into goods produced.
Futures are down in pre-market with the Dow down about 54 points. Still to come out tomorrow are CPI, Core CPI, Industrial Production, Capacity Utilization and Michigan Sentiment.
Yesterday the Dow closed up a few points as shown in the chart below, but if you look at the other leaders like CAT, DD and others in the Index, you will notice that volume was down yesterday and that the trend of these leaders looks like they will continue down. Unless new leaders emerge in the Dow Index, then the Dow is set to continue to drop as we are now below the 25 and 50 day Moving Averages on these stocks.
Futures are down in pre-market with the Dow down about 54 points. Still to come out tomorrow are CPI, Core CPI, Industrial Production, Capacity Utilization and Michigan Sentiment.
Yesterday the Dow closed up a few points as shown in the chart below, but if you look at the other leaders like CAT, DD and others in the Index, you will notice that volume was down yesterday and that the trend of these leaders looks like they will continue down. Unless new leaders emerge in the Dow Index, then the Dow is set to continue to drop as we are now below the 25 and 50 day Moving Averages on these stocks.
Labels: CAT, charts, Core PPI, DD, Dow, Initial jobless claims, PPI
posted by Charles Amico at 5:40 AM
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