July 11, 2011
Good morning. Despite Friday’s surprise poor numbers from the Labor Department the SPY still managed a positive week, closing up .49 at 134.40 (.4%). That small move up maintained the very strong 5.6% move up from the week before, when really the market could have had some serious losses on Friday. The Thursday ADP numbers (private sector jobs) showed a very strong 157,000 advance, causing many to revise estimates of the governmental numbers on Friday to well over 100,000, and had many thinking the surprisingly bad number of May would be revised upward.
May 24, 2010
Good morning. Wild and down market last week, despite the late day rally on Friday. For the week the SPY was down 4.78 (or 4.2%) to close at 109.11.The low on Friday of 105.36 was only slightly above the so-called flash crash low of 105, not a pretty site if you were in the camp that the “flash crash” was just an anomaly.