It has been some bad days in the neighborhood this week to say the least. The big test will be if the S&P touches 2041 and if so if it will bounce from there. I think the sell off has been over done.
US weekly jobless claims total 274,000 vs 260,000 estimate http://www.cnbc.com/2016/05/05/us-weekly-jobless-claims-apr-30-2016.html The number of Americans filing for unemployment benefits rose more than expected last week, posting the biggest gain in more than a year, but the underlying trend continued to point to a strengthening labor market. Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 274,000 for the week ended April 30, the Labor Department said on Thursday. Last week's increase was the largest since February of last year. Claims for the prior week were unrevised. Economists polled by Reuters had forecast initial claims rising to 260,000 in the latest week. Jobless claims have now been below 300,000, a threshold associated with healthy labor market conditions, for 61 consecutive weeks, the longest stretch since 1973. A Labor Department analyst said there were no special factors influencing last week's claims data and only claims for the District of Columbia had been estimated. The number of Americans filing for unemployment benefits rose more than expected last week, posting the biggest gain in more than a year, but the underlying trend continued to point to a strengthening labor market. Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 274,000 for the week ended April 30, the Labor Department said on Thursday. Last week's increase was the largest since February of last year. Claims for the prior week were unrevised. Economists polled by Reuters had forecast initial claims rising to 260,000 in the latest week. Jobless claims have now been below 300,000, a threshold associated with healthy labor market conditions, for 61 consecutive weeks, the longest stretch since 1973. A Labor Department analyst said there were no special factors influencing last week's claims data and only claims for the District of Columbia had been estimated. According to a Reuters survey of economists, the Labor Department is expected to report on Friday that nonfarm payrolls increased by 202,000 jobs in April after a gain of 215,000 in March. The unemployment rate is seen hold steady at 5.0 percent and average hourly earnings are forecast rising 0.3 percent for a second consecutive month. Thursday's claims report showed the number of people still receiving benefits after an initial week of aid fell 8,000 to 2.12 million in the week ended April 23, the lowest level since November 2000. The four-week average of the so-called continuing claims declined 17,000 to 2.14 million, also the lowest reading since November 2000.
Broke through this time...too bad my internet connection is messed up today. Hopefully, tomorrow it'll be fixed.
Yeah, I would say so. AAPL just needs to pop below 92 to scare off those longs looking at that support, then rally off from there and up we go again.
Yep, I've been looking at AAPL as well, and it looks like you may be right...they're just running stops on it and bad mouthing it on CNBC to get it cheaper...bastards!
It's amazing how quickly things changed for TSLA, LNKD and WTW after ER. Seems like shorts are back in control WTW opened around +16% and up only 2.3% LNKD was up more than 10% just end of last week after ER was announced but now it is back to pre-ER share price TSLA was up nicely and now already in negative territory... We can find more examples... Not to mention what is going on with FIT... Beat both top and bottom line, raise full year guidance and still managed to go down almost 18% I expect a classic Friday relief rally tomorrow but who knows...
