Hello from New York, where I will be joining guest host Wayne Allyn Root on the Jerry Doyle radio show today. The show is nationally syndicated and is one of the highest rated radio talk shows in America with millions of listeners each day. The show runs from 3-6pm est, and I will be on at approximately5 pm est.

April unemployment showed the U.S. losing 539,000 jobs, versus the 600,000 estimate, bringing the unemployment rate to 8.9%. U4, the unemployment rate that includes those that have stopped looking for work and those that are working just part time, now stands at 16%.

Before I get to the market forecast for the week, just a quick reminder that this IS a bear market rally, and once it ends: "Too-big-to-fail" banks like Bank of America andCitigroup, and corporations like Chrysler and General Motors, WILL ultimately be allowed to fail; …