I think it’s safe to say that the market has priced in tomorrow’s jobs report, however bad it may be. But just for kicks, let’s take a look at the withholding data.
In September 2008, the month that the world ended, the IRS withheld $142,760,000,000 from the paychecks of American workers. Of course, here in Larry Kudlow’s “barn burner of a V-shaped recovery” things are much better right? WRONG! In fact, you might say that they are sub-apocalyptic, which is a word I have invented to describe the charred landscape of the American job market. (Sub-apocalyptic is worse than post-apocalyptic, as you may have guessed.)
In September 2009, the IRS withheld $125,214,000,000, which is 12.29% less than 2008. So, American paychecks were fewer in number, and there was less for the IRS to collect.
Now, they will say that maybe half of that decline was the result of the “Making Work Pay” tax credit. But nobody knows for sure. The data has, unfortunately, become all fuzzy and blurry. But let’s suppose that the drop was “only” 6%. Is that bad? Yes, indeed. In fact, it is catastrophic for a nation with a growing population.
(Note, I may bring back the charts, however, it requires work on my part, so I am not in a hurry to do it. Perhaps “W T F” could just email me the code to make the Google chart API put a watermark on the chart.)
Carnak predicts a tax increase in the future, sheeple.
Matt, I told you to give up your withholding taxes chart. Who cares about the real economy? But why did you listen to me in the first place? Nobody does.
Did anyone mention the full moon? Yep, this time it worked. So instead of bulls and bears, they will be substituted with wolves and sheep. When the wolves howl at the moon they scare the sheep.
If I can’t have my SPY upper trendline hit then I’ll take SKF at $80. I’m not picky.
I mentioned earlier 1020.56-1023.46 was support in futures.? well so far.. 1023.75 is lowest and seems to be holding.
that doesn’t do much except for the faxt that the SPX itself has support in the 1009-1020 area lol. I have yet to put my special thinking cap.
but I also predicted today Bruins (hockey is back) would lose and they did. 4-1 LOL
what a day!
JEEZUS
on my special pivot points…
S3 for SPX was at 1029.51!!!! we closed at 1029.52 ! lol
talk about perfection. of course i wasnt home to watch so i have began the review as we speak and am fascinated about the perfect play
I say we go at least to 991 in a few weeks? dont count on this though. my last call was freaky.
Alright K, I hope you rang the register on those Nostradamus predictions. Freaky is right. “Spooky” is more right. Is it halloween?
With all of those “special” things going on you sound like the Church Lady… “well, isn’t that spaaacial”.
Church lady meets the soup natzi: Now there’s a dynamic duo.
fine no special soup for you. I dont want to be church lady.
i’ll be calling it secret pivots and secretK
Maybe your wife can be church lady. Ah, secret is even more mysterious. I like it.
SpecialK
Randall,
since we never talk.
you like SecretK or SpecialK ?
K,
Your 1029.51 pivot is also one of the fib levels in the Box of Bulls.
Maybe you are the Fibonazi.
Matt
Matt,
HAHA. what else is new?
Oh yeah,,, i withdrew a huge load of $ from BOA on the 24th (next day after i made my prediction, and i did today too.) I think the banks dont have enough cash now LOLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL
MOOOOOOOOOOOOOOOOOOOOOOOOOOOO
i have made most of these mistakes and most have stopped doing.
http://www.ratiotrading.com/2009/09/50-common-mistakes-most-traders-make/