the ELLIOTT WAVE lives on
REVIEWA choppy and somewhat volatile market in the US this week that ended on a positive note. Global markets were not as fortunate as the DJ World index ended -0.4%. Positive economic reports again outnumbered negative ones 2:1. On the downtick: factory orders, ISM services, and the Trade deficit increased. On the uptick: consumer credit, wholesale inventories, consumer sentiment, the M1-multiplier, the WLEI, and weekly jobless claims declined. Consumer sentiment has been improving since its 30 year low in mid-August, and the economy appears to be making a u-turn after its double bottom low in mid-October. For the week the SPX/DOW were +1.15%, and the NDX/NAZ were +0.75%. Asian markets lost 2.5%, and European markets gained 0.1%. Next week there is a plethora of economic indicators and the FOMC meeting on tuesday.