6/4 Morningline

I woke up this morning to the cheery sound of NPR's "Morning Edition" (which starts broadcasting at 3 a.m. here in Portland, Oregon), saying that the government's employment report would be out in a few hours and good news was expected.

Oops.

Actually, capitalist job creation fell to the lowest rate so far this year. The overall job creation rate was stunning, but nearly all of the new jobs were temp hires by the Census Bureau.

I propose that we change the Constitution to require an annual census. That would certainly solve the the problem of an employment slump once the 2010 census is complete, and would do much help iron out the peaks and valleys characteristic of capitalist instability.

Remember, you heard it first on Private Trader.

Blue-chip stocks, showing a preference for private sector job creation, gapped down at the open and were trading about 1.5% below Thursday's close. Treasury long-term bonds were up by a similar proportion.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
SPY $108.89
VIX 32.62
TLT $96.78

At 9:42 a.m. Eastern

So far, however, stocks intra-day have been up, and bonds down. So the initial news rush may prove to be ephemeral.

Other indicators: Emerging markets and oil are both down by more than 1.5% in early going. Everything else is also down, to a lesser extent. The dollar is split: Up against the euro, down against the yen.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
JNK $37.12
GLD $117.78
USO $33.56
EEM $37.83
EUR/USD $1.2044
USD/JPY ¥92.08

At 9:47 a.m. Eastern


Indicator Exchange-Traded Fund Symbols:
EEM - emerging markets
EUR/USD - euro/dollar currency pair
GLD - gold
JNK - high-yield corporate bonds
SPY - blue-chip stocks
TLT - Treasury long-term bonds
USD/JPY - dollar/yen currency pair
USO - crude oil
VIX - fear index

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The Great Reflation: How Investors Can Profit From the New World of Money
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we remerge from the wreckage.

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Abbreviations:

• psar - Parabolic Stop and Reverse
• adx - Average Directional Index
• pps - Person's Proprietary Signal
• ma20 - 20-day moving average
• macd - Moving Average Convergence-Divergence
• sto - Fast Stochastic

About the glance: The colors indicate the state of each signal.

• trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
• adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
• psar, pps, macd: green for bull mode, red for bear
• sto: green for overbought, red for oversold, yellow for the neutral zone.

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