FYI: After three solid reports, jobless claims for the latest week saw a relatively large jump this week rising from 243K up to 257K. That considerably higher than economists estimates for a decline to 242K. As shown in the chart below, claims are now once again bumping up against the downtrend line that has been in place for some time now. Obviously, claims can’t go down forever, but this is a reading to watch closely in the next few weeks. Anything sideways would be fine, but a significant run higher would be bad news for bulls. This week’s report also covered the Easter holiday, so there’s also the possibility that the numbers were distorted by the holiday.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/jobless-claims-back-near-upper-end-of-downtrend-channel/
