U.S. JOBLESS CLAIMS

Latest data on unemployment and jobless claims were welcomed by the financial media and helped equity markets gain momentum. Weekly jobless claims data is now at an important support. Will it reverse from here? We don’t know yet but if we see signs of reversal in the following weeks, resulting in worse than expected job numbers then we will conclude that the trend line is valid and this could be a major turning point similar to year 2000 and 2006. An interesting chart to watch in the following weeks…