Unemployment data came out this morning, and oh boy…
3.3 million Americans applied for unemployment benefits the past week — that number is quadruple the previous record amount that was set in 1982.
This is an incredible reflection of the damage this pandemic is doing to the U.S. economy. Some economists expect the unemployment rate to hit 13%…
In comparison, the jobless rate at the end of the 2008 recession only climbed to 10%.
A lot of traders wondered why markets didn’t rally after the government’s promise of unlimited lending and a major stimulus.
This is why…
Let’s break it down on the charts.
In today’s video I’m also covering critical levels for the Dow… the outlook for bonds … why the U.S. dollar is weakening… what the record unemployment figure means for the market… and why I expect more downside ahead.
Looking at yesterday’s data will bankrupt you. You might look at the markets when you go to bed and wake up to a completely different story…
Markets are moving too fast, yesterday might as well be a year ago.
That’s why I’ve teamed up with the world’s #1 pre-market trader — Tom Busby — to show you how we’ve cracked an all-new style of trading.
It allows us to spot potential winning trades before most traders even wake up, which in today’s market could make all the difference.
If you’d like to see these trades in action, click on the button below to watch our presentation.
