Short Term Trading Member Forum

[techcharter]

Initial Jobless Claims Chart:

The Initial Jobless Claims chart continues it's trend reversal. The number of initial claims are very close to breaking the upper trendline of resistance which is formed by the tops from April '03. From April '03, all advances in the jobless claims have reversed sharply to make new lows. These last 5-6 weeks the sharp rise has NOT been met with a sharp reverse to a new low. The best wave count is the Initial Jobless Claims is in a new uptrend and just waiting for confirmation. This uptrend will be more brutal than the one occurring after the Internet bubble popped.


http://www.bullandbearwise.com/InitialJoblessChart.asp