Short Term Trading Member Forum

[techcharter]

Unemployment Insurance TA

Since the peak rate of weekly first time unemployment in early 2009, the pattern appears as a double zigzag. Last weeks report was sharply lower, and made a new recession low. The bad news is this low follows a textbook triangle. That means the low is part of the last mowe lower before unemployment claims begin its longer term uptrend. That uptrend may have started this week with much higher claims, nearly reversing last week's move. A move above 480K new claims would confirm the resumption of the longer term uptrend in layoffs.


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