Despite Fed Chairman Bernanke’s rhetoric that the recession will end this year, the markets seemed to ignore his words of encouragement.
The main focus this week will remain on Friday’s employment numbers. The expectation is that “only” 500,000 jobs were lost. If the real number comes in close to that, it would be interpreted that things might be “less bad” as in the recent past, which could provide fuel for another rally.
If the number comes in considerably higher than expectations, all bets are off.
As of yesterday, our Trend Tracking Indexes (TTIs) are showing the following positions:
Domestic TTI: +1.02%
International TTI: +8.84%
Hedge TTI: +1.54%
We continue implementing our plans as posted previously.