{"id":6209,"date":"2012-12-07T08:40:03","date_gmt":"2012-12-07T13:40:03","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6209"},"modified":"2012-12-07T08:40:03","modified_gmt":"2012-12-07T13:40:03","slug":"before-the-open-dec-7-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6209","title":{"rendered":"Before the Open (Dec 7)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Friday. Happy Employment Numbers Day.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mixed. Australia, China and Singapore posted decent gains; there were no big losers. Europe is currently mostly down, but nothing is down a large amount. About 20 minutes before the employment numbers, futures here in the States point towards a down open for the cash market.<!--more--><br \/>\n<\/span><br \/>\n<span style=\"font-size: medium;\">The dollar is up. Oil is down, copper up. Gold and silver are down.<\/span><br \/>\n<span style=\"font-size: medium;\">Here are the employment numbers\u2026<\/span><br \/>\n<span style=\"font-size: medium;\">unemployment rate: 7.7% (it was 7.9% last month)<br \/>\n<span style=\"font-size: medium;\">nonfarm payrolls: 146K added (90K was expected)<br \/>\n<span style=\"font-size: medium;\">private payrolls: 147K added<br \/>\n<span style=\"font-size: medium;\">average workweek: 34.4 hours (same as last month)<br \/>\n<span style=\"font-size: medium;\">hourly earnings: $23.63 (up 4 cents)<\/span><\/span><\/span><\/span><\/span><br \/>\n<span style=\"font-size: medium;\">After the numbers were released S&amp;P futures jumped from being down 4 to up 8 and then it gave back a couple points. <\/span><br \/>\n<span style=\"font-size: medium;\">Heading into this week I was looking for a mini correction or at least some sideways movement to allow the charts to rest and some of the indicators to cycle against their extreme levels. Here&#8217;s what we&#8217;ve gotten so far; this is SPY, the S&amp;P 500 ETF. Weakness early in the week was followed by a vertical rally on Wednesday. Then prices settled into a range. Since I was looking for a pause, I see nothing wrong with this action. <\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/spy120712.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">And I&#8217;m still watching to see if the Nas can take out the horizontal trendline shown below. A rally attempt that does not include the Nas will not go far. <\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/nas120712.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">More after the open.<\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/www.marketwatch.com\/story\/newsviewer\">MarketWatch<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">today&#8217;s <a href=\"http:\/\/www.briefing.com\/investor\/calendars\/upgrades-downgrades\/\">upgrades\/downgrades<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/index.php\/2012\/12\/01\/earnings-dec-3-7\/\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/index.php\/2012\/12\/01\/economic-numbers-dec-3-7\/\">Economic Numbers<\/a><\/span><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n   var gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\"); document.write(unescape(\"%3Cscript src='\" + gaJsHost + \"google-analytics.com\/ga.js' type='text\/javascript'%3E%3C\/script%3E\"));\n\/\/ ]]><\/script><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n   var pageTracker = _gat._getTracker(\"UA-6273151-1\"); pageTracker._initData(); pageTracker._trackPageview();\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Friday. Happy Employment Numbers Day. The Asian\/Pacific markets closed mixed. Australia, China and Singapore posted decent gains; there were no big losers. Europe is currently mostly down, but nothing is down a large amount. About 20 minutes before the employment numbers, futures here in the States point towards a down open for [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/6209"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6209"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/6209\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}