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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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Sabeena LoBello's profile photograey hat's profile photoJason Kolb's profile photoButch Jones's profile photo
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Are you sure they're not just falling off the unemployment rolls due to expiring benefits?
 
What Jason said... these numbers only count people who receive compensation checks.
 
I honestly don't know anyone that's unemployed.  As a matter of fact our company is struggling to find qualified people all across the country.
 
Both the U3 and U6 unemployment numbers have come down in a (similar) healthy fashion, compared to their climb up to the (recent) highs.  While each has come down, we have come into a stabilization period as of late. 
   We can certainly go up from here and still continue an overall downward trend.  If were were to go up, I would still look toward an overall downward trend if we were to go towards 8.2 and 8.5...then continue lower (finding resistance).  If we were to break 8.5, then find support there...I would look for retests of other previous highs.
  We'll see...
 
+Dan Traina 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...
 
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.
 
+graey hat People who can live on 40% were doing pretty good to begin with. Not exactly the stereotypical leech.
 
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 benefits 
 
+Jason Kolb 

  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. 

Dan
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