Wednesday, March 31, 2010

3/31 pre-open

ADP private-sector payrolls came in negative.  This indicates the jobs report will not be as spicy as economists estimates.  100,000 census workers are baked into Friday's number.  Without a positive private-sector number to add to that the jobs report becomes a non-event.
Coming in long due to uptrend I1.  Stop is at June futures < 1162.70.  30-minute M/A is 1168.75:
.5% of 1168.75 minus 20 ticks = 1162.70.

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