GREY:ALXDF - Post by User
Post by
goldopportunityon May 04, 2017 9:48pm
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Post# 26206616
Fwiw.......
Fwiw.......Dow:
Had an outside day, but for the 7th consecutive session the dow made a lower low. Kinda like death by a thousand cuts. Add in the huge up gaps just a bit below, and you have a recipe for disaster.
Bottom-line -- steady stream of month over month weak data suggests to me that the dow is living on borrowed time. It may get a st reprieve if friday's jobs report is half-decent (i.e. 185K consensus), but the dow is going to drop hard, very soon. This isn't going to end well at all.
Usdx:
The dx broke to the upside today and got up to 99.34 and closed last week's down gap. But then it plunged down to 98.56, below april 25th st support.
Bottom-line -- the dx could have an inside day tomorrow, but I'd speculate we'll see a quick intra-day dip below today's low before moving higher.
Odds 'n sods:
- Data this am further confirms weak u.s. economy i.e. exports fell, factory orders plunged
- April jobs report is released friday am -- consensus is for 185K jobs being added
So we'll see what happens tomorrow. Have a good evening. Jmvho.
goldopp