{"id":6609,"date":"2013-05-03T07:38:55","date_gmt":"2013-05-03T12:38:55","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6609"},"modified":"2013-05-03T07:38:55","modified_gmt":"2013-05-03T12:38:55","slug":"before-the-open-may-3-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6609","title":{"rendered":"Before the Open (May 3)"},"content":{"rendered":"

Good morning. Happy Friday. Happy Employment Numbers Day.<\/span>
\nThe Asian\/Pacific markets closed mixed. China rallied 1.4%; Indonesia, Malaysia and Singapore dropped 1% or more, and India and Japan also posted noticeable losses. Europe is currently mostly up. Amsterdam is down 1%; Austria, Belgium and Greece are posting decent gains. About 20 minutes before the employment numbers were to be released, futures here in the States pointed towards a slight down open for the cash market, but this will change.<\/span>
\n
\n<\/span>
\nThe dollar is down. Oil and copper are up. Gold and silver are up. <\/span>
\nThis has been a big week. Many earnings reports, more than 30 economic reports including the latest employment figures, and and FOMC meeting, and as of now all the indexes are posting gains for the week. All the indexes are in large consolidation patterns, but they’re not all acting the same. Here’s the S&P and Russell. The #1 thing I’ll be looking for going forward is for the movement of the small caps to match the movement of the large caps. If the S&P breaks out, the Russell MUST NOT be far behind. Otherwise the S&P will not go very far. Simple as that.<\/span>
\n\"\"
\n\"\"
\nHere are the employment numbers\u2026<\/span>
\nunemployment rate: 7.5% (was 7.6% last month)
\nnonfarm payrolls: +165K
\nprivate payrolls:
\naverage workweek: down 0.2 hours to 34.4
\nhourly wages: up 4 cents to $23.87<\/span><\/span><\/span><\/span><\/span>
\nFebruary and March were revsied up a combined 124K.<\/span>
\nOn the news S&P futures jumped about 10 points. The long term trend remains up. The intermediate term trend is neutral. Let’s see if the indexes can breakout today. More after the open. <\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\nheadlines at MarketWatch<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n