CL Redux

These markets are so bullish it seems that no matter what bad economic number comes out they just take a slight glancing blow and then proceed higher.

Shakes his head.
 
But I guess from this perspective it wasn't all that bad.

April 5, 2011, 10:03 a.m. EDT
ISM services-sector gauge drops to 57.3% in March

WASHINGTON (MarketWatch) - The Institute for Supply Management's services-sector index for March fell to 57.3% from 59.7% in February, the private group reported on Tuesday. Economists surveyed by MarketWatch expected the ISM services index to edge down to 59.0% last month from February's number, which was the highest level in six years. Any reading over 50% indicates that more firms are expanding than contracting
 
April 5, 2011, 10:17 a.m. EDT
Oil loses, gold inches up after ISM, GOP plan

SAN FRANCISCO (MarketWatch) -- Crude-oil futures added to losses after data showed a drop for a key services-sector gauge and the Republicans in the House of Representatives proposed a budget plan with hefty spending cuts. Oil for May delivery (NEW:CLK11) retreated 59 cents to $107.81 a barrel on the New York Mercantile Exchange. Gold for June delivery (COMMODITIES:GCM11) , meanwhile, gained 20 cents to $1,433.30 an ounce on the Comex division of the Nymex. The Institute for Supply Management's services-sector index for March fell to 57.3% from 59.7% in February, the private group reported on Tuesday. Economists surveyed by MarketWatch expected the ISM services index at 59%. The House Republican plan would shrink government spending by $6.2 trillion in 10 years. It is expected to face fierce opposition.
 
this is the megaphone pattern

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