*SCALPSWINGSTRADDLE*

[greenehugh]

Disagree. This rally is totally BS manipulation. Read this; its dead on. "However, recent economic reports reveal how much the game may be changing again.
As we all know, European countries began imposing harsh austerity measures on their economies last year, in an effort to begin cutting into their record debt levels. Some economists, including the U.S. Fed, warned it was too soon in the anemic global recovery to do so.
By late last year economic growth in Europe was already losing the conflict with the harsh austerity measures. The economies of the 17-nation eurozone shrank 0.3% in the fourth quarter, and the European Commission forecasts a recession of the same magnitude will continue this year.
The International Monetary Fund recently warned that "The global economy is at a precarious stage and downside risks have risen sharply." The IMF cited the economic slowdown in Europe as the likely catalyst, warning it would also "drag China's important growth lower".
So perhaps the negative news from China this week should not be surprising. With roughly 20% of its exports normally going to Europe, China's industrial output slowed in January and February to its lowest level since July, 2009.
Meanwhile Japan, the world's second largest economy, reported its trade deficit hit a new record high as its exports slowed. And Brazil, the world's 7th largest economy, reported its GDP growth rate slid to just 1.4% in the fourth quarter from a year ago, and blamed the developing recession in Europe.
In the U.S., mixed in with the still mostly positive economic reports in the headlines have been reports that Durable Goods Orders unexpectedly fell 4.0% in January after rising 3.2% in December, factory orders unexpectedly fell in January, as did Construction Spending, while the ISM Mfg Index unexpectedly declined in February.
And this week it was reported that the U.S. trade deficit widened by 4.3% in January to its largest gap between imports and exports since October, 2008.
So the game is possibly reversing from last October." http://www.decisionpoint.com/TAC/HARDING.html