Unemployment is falling fastest among the long-term jobless, those out of work for 6 months or longer. Are people in your circles having an easier time finding jobs? http://on.wsj.com/VU1rMr
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- are you sure technical analysis works on unemployment charts? I always gave it some credence with prices but only because there are psychological factors associated with certain price levels. I'm not so sure about applying them to this type of number...Jan 11, 2013
- Long live Obama ! :))))))))Jan 11, 2013
- A few of my friends were on unemployment for about two years. In each case, once their unemployment dried up, they went out and got jobs. I would be angry at them for using the system in such a way to fund their 48 month vacation but then again I am a capitalist and all I can do is admire their ability to take advantage of the current political environment.Jan 11, 2013
- People who can live on 40% were doing pretty good to begin with. Not exactly the stereotypical leech.Jan 11, 2013
- Thats only because there is a limit to how long you can be on unemployment. Doesn't mean these people actually got jobs, just they are no longer receiving benefitsJan 11, 2013
Technical levels do not provide movement, but it tracks significant levels of movement. How data approaches, meets, exceeds these technical levels gives us indication of a next possible move (no matter what the data is).
Retracement is reasonable in all movement, nothing can go up forever and nothing can go down forever. Trend works in all charts showing you the momentum direction and strength (or lack of). I believe fibonacci can certainly be used (or should be used) in much of the same thought (it is not about mass levels).
If trend is looking for momentum and direction in an overall move, then fibonacci measures that amount of movement and can be applied to the whole move, a portion, or just on leg. If you have an A/B, it is significant when a portion of that move is taken out with a counter-move. The counter-move is the retracement. Trend lines are actually a very similar type of technical indicator, just more visually appealing.
DanJan 13, 2013