{"id":4141,"date":"2011-04-01T07:37:01","date_gmt":"2011-04-01T12:37:01","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4141"},"modified":"2011-04-01T07:37:01","modified_gmt":"2011-04-01T12:37:01","slug":"before-the-open-apr-1-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4141","title":{"rendered":"Before the Open (Apr 1)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\nThe Asian\/Pacific markets closed mostly up; China and Hong Kong gained more than 1%. Europe is currently up across the board; Germany is the sole 1% winner. 30 minutes before the employment numbers were released, futures here in the States pointed towards a moderate gap up open for the cash market.
\n<\/span>
\nHere are the numbers: <\/span>
\nunemployment rate: 8.8% (from 8.9%)<\/span>
\nnonfarm payrolls: up 216K (192K expected)<\/span>
\nprivate payrolls: (will post when I get the number)<\/span>
\naverage workweek: unchanged at 34.3<\/span>
\nhourly earnings: flat at $22.87 (0.2% gain expected)<\/span>
\nThe futures reaction to the numbers was positive.<\/span>
\nThe market continues to float up on light volume, and the internal breadth indicators support the move. The charts, which were messy at the beginning of the week are greatly improved, and sentiment has made an about-face. If feels like the Energizer Bunny market is back…it keeps going and going and going. Every little dip gets bought – whether it makes sense or not. <\/span>
\nHere’s the daily S&P 500 chart. Other than a couple nasty down days (news induced) which were immediately reversed (see yellow box), the uptrend has remained in tact. The Russell and Dow are at their highs; the Nas and SPX are not far behind. <\/span>
\n\"\"
\nTrade what IS happening, not what you think should happen. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings Reports<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n