Posts have been few this last week as the day job took more energy.  But now to look at the week.  The DJIA cash managed to hit the resistance level of 8,000, the S&P500 has remained above 800 for the week and nearly made the next resistance level of 850.  Meanwhile the FTSE manages to close above 4,000 on Thursday but lost it again on Friday.

For all the huff and puff from the G20 nothing has changes on the economic front.  Non farm payrolls came in a little worse than expected, though the January figure was revised by adding another 86,000 jobs lost in that month, making the total for January 714,000.  Just as well they did not get it right in January, that number would have had an adverse effect on the market. With the unemployment rate now at 8.5%, a 25 year high, there is no end in sight to job layoffs.

The headlines tell us that foreclosures are still increasing, wich is no surprising given the layoff numbers.  How many weeks could you make you mortgage payments if you lost your job?  It is not something we like to look at, but it explaines the problems in the housing market.

The coming week sees the start of the 1st quarter reporting season.  For most companies it will not be a happy time.