Extremely briefly

[solarbird]

My hands are acting up, but I wanted to mention that the NASDAQ has finally broken down past the November intraday lows - it passed the closing lows some time ago - and we're back to 2003. We're not yet back to the 1990s in the NASDAQ, unlike the Dow and S&P500, both of which have broken not just the 1990s trendline but the 1980s bull-market trendline, rather decisively in both cases.

Oh, I'm sure everyone saw the jobs report - headline (U-3) unemployment now 8.1%, U-6 (full) unemployment rate now 16%. The BLS's birth/death model in unemployment added 134,000 jobs to the not-seasonally-adjusted data, which is pretty much just from Mars. According to their model, every employment sector had positive job creation from new business formation in February. Guys, the model is stupid. Make a new one. Last I checked, Mish hadn't taken the latest report apart yet, but I'm sure he will.

eta: Oh, there it is.

Comments

[technoshaman.livejournal.com]

There *are* certain areas where job hunters are still getting hits... but it's jobs nobody wants, like a- for MSFT, or a startup that wants a Unix god for $30k...

[solarbird]

"There are jobs available in an industry" is not the same thing as "new companies in the industry in which those jobs lie are creating jobs than are being lost to business closings."