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Initial Claims Small Miss - Stuck At 8-Month Average
For the 4th week of the last 5, initial claims missed expectations (though very modestly 336k vs 335k exp). This data confirms the trend that so many clung to last year as a driver of the equity market - or indicative of the recovery's self-sustaining nature - has now ended. On average, initial claims have now been flat for 8 months. The labor department proclaimed no special (weather-related) factors or states estimating claims last week as total benefit rolls increased by 37,000 to 2.98 million - the first rise since the start of the year.
Charts: Bloomberg
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Hard to say what an 8 month average is on a chart that looks like a heart in v-fib
I've seen this. We need ringers-lactate and some lidocaine.....STAT!
The amateur chartist in me sees parallel lines top and bottom forming the start of a nice channel for rising claims
When will they be revised worse, as almost always happens?
More fukkin govt nonsense from braindead bureaucrat idiots.
These numbers are about as reliable as those lucky numbers you get sometimes in fortune cookies.
At least random has a chance of being correct. Lies are always wrong.
Why does anyone analyze and talk about these numbers as if they were the truth? As if they were correct and accurate? It defies logic. Why does any intelligent aware human give any semblance of credibility to this propaganda?
No worries, manufacturing PMI 56.7 versus expected 53. I was taught here on ZH that flipping burgers is manufacturing...
Most of it is chatter. All you need to worry about is the green line, (not the direction of it mind you, but the color) since somehow that's the key piece the algos will scrape from this in order to assure the market roars to new highs regardless of the data.
We never recovered from the recession ( yea I know duh):
http://research.stlouisfed.org/fredgraph.png?g=siK
Notice the possibility of a new divergence the last 2-3 months.