This week, in lieu of covering Japanese stocks, Im sharing one of the US stock market key indicators I watch the four-week moving average of weekly US jobless claims. First, proper credit must be given to my old partner, David Weigman, for bringing this valuable tool to my attention years ago and for reminding me of its importance recently. The two spikes you see were in 01- 02 and in 08 09. Since the last spike, its been an almost unabated slide to the downside. There have been a few blips, but no change in trend. The most recent blip just occurred, but has given way to the power of the trend. Stocks simply will not turn lower in any substantial fashion if this trend doesnt change direction. Ill keep this on our weekly radar as part of TRB going forward.