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Author Topic: Market Commentary - Jan 05, 2011  (Read 701 times)
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Capitalist Pig
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Posts: 17830

« on: 2011 Jan 05, 09:53:18 pm »

The dollar had a huge gain today, bouncing off support.  This seemed mainly due the "positive" employment report from ADP.  ADP does the payroll for a huge number of companies, so they offer a good window into the employment picture across the country.  ADP says private firms added almost 300,000 jobs, which was much higher than the 100,000 expected.  Some economists are pointing to these newly positive results as a sign that QE2 is hitting the economy and that price inflation won't be far behind.

Here are the numbers for today:

US Dollar ETFGoldSilverDow 30S&P 500
23.12+1.05%  1341.70-0.43%  29.23-1.38%  11,722.89+0.27%  1,276.56+0.50% 

Interestingly enough, everything showed relative strength today except for silver.

Happy trading!

Neal McSpadden
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