The "Global Warming is human caused, climategate" fraud continues to unravel. Pretty soon believers in this new religion from India will be shamed out influence. Most of the illiterate world supports climategate as a new panhandling technique and to rest and enjoy their foreign aid. The climate scientist who was at the forefront of the scandal involving erroneous data, the withholding of evidence that did not fit the IPCC's accepted theory on man-made global warming, and the manipulation of information, admitted that his data was wrong and that the earth may not be warming at all.
The Red Chinese spies have stolen the designs for every nuclear weapon in the American arsenal. 60 Minutes reported yesterday.
World Outlook
Greek communists appear to be getting about $52 billion in bailout funds from Germany and France.
Auto sales for February were kept low due to snowstorms and recalls.
Unemployment insurance for millions of people is ending as democrat- socialists ignore the economy and to work on a health care bill that will be paid by our grandchildren. Obama, it’s the economy stupid!
Socialist Governor "Who" of New York will not run again. And all of God's people said AMEN.
U Michigan Consumer Sentiment - Final Feb 26 level was down only 0.1% to 73.6%. That indicates the preliminary Consumer Confidence index that had been down 10.1% to 46%was probably wrong.
Week of Market Reports:
Monday, March 1:
Consumer income and spending.
ISM Manufg Index
Construction Spend.
Tuesday, March 2:
Auto sales.
Wednesday, March 3:
ADP Jobs Report
ISM non-manufg Index
Thursday, March 4:
Unemply Claims
Productivity
Pending Home Sales
Friday, March 5:
Labor Dept Employment Report.
Market Outlook March 1
The world economic news has not been good and the Obama administration as other socialist is not interested in private sector jobs just dependent union, Acorn, and state and federal employees who are dependable voters for socialist handouts. Obama's advisors said, "It is not your money, it is the governments money that that they let you use. That is why in socialist countries like Greece and in southern Italy and in the NYC garment district it is believed that half the economic activity is underground and uses barter to avoid using the government money and taxes. Obama foolishly wastes America's resources and is destroying the worlds best health care system and the most innovative technology industry by forgetting, "It’s the economy stupid!"
The short and interim market direction remains bullish. However, when the market rises close to the next high (in 1 to 3 months) it will likely be a critical time to take profits because FED tightening will likely be occurring soon after. Inflation has started and health care costs surge and care declines whenever socialists get involved. After the next high point the subsequent decline will likely break the old October 30 lows and challenge even the July 2009 low. Our corrected NYSE cash flow index gave its Head & Shoulder neck breakdown sell signal on Jan 29 when the NYSE (corrected for trading volume) broke through the neckline of a head and shoulders formation and it plunged about 3% below. But that signal has a long lead time which allows us to know what is likely two or three months in advance. The reason we cannot do a Market Cash Flow Analysis (MCFA) of the other exchanges is because they use the NYSE volume; they no longer use their own real stock volume.
Asian markets were up over night; Shanghai up 1.2%, Hong Kong up 2.2%, Taiwan up 1.9%, and Japan up 0.5%.
European markets are up in the range from 0.6% to 1.1% this morning about half way through their day.
Today US pre-market futures are up 0.2% at 8:30 AM EST. It is seldom a good indicator of what will happen but we are due for a resumption of the up-trend soon.
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