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Post# of 51804
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techcharter

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techcharter

Re: None

Sunday, 08/08/2004 3:39:56 PM

Sunday, August 08, 2004 3:39:56 PM

Post# of 51804
Initial Jobless Claims.

Initial Jobless Claims continue to battle the 350K level as resistance to the upside. The wave count looks like a 1 and 2 to the upside. Confirmation has not been made. The upper channel formed by the highs between 5/03 and 4/04 has been broken as the number of claims have moved sideways.

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

This chart and ewave analysis should have left economists with no "surprises" this past week. The surprise from my view is these people and the Bureau of Labor Statistics are still allowed to have jobs.
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