It looks like they couldn't sharpen their pencils enough this time.
The market will have to hang it's hat on Zuckerberg to hold an increasingly important 1370 area.
It looks like that "typical" May top came a week early, no doubt in part because of reality.
Employment Situation
"April jobs were softer than expected but there were upward revisions and the unemployment rate dipped to 8.1 percent from 8.2 percent in March.
Private payrolls rose 130,000 in April after a 166,000 increase the prior month. The consensus forecast was for a 178,000 advance.
Average hourly earnings were flat.
the unemployment rate to 8.1 percent reflected a 342,000 decline in the labor force. Household employment fell 169,000.
"The dip in the unemployment rate is for the wrong reason and there could be reversal if more return to active job searches.""
April jobless rate 8.1%...
+115,000; Sluggishness...
Labor Force Participation Lowest Since 1981...
Disability applications soar...
REPORT: 29.7M unemployed...
STOCKS SLUMP...
BILLIONS AND BILLIONS AND BILLIONS!
BLOWOUT: FACEBOOK Values Itself at Up to $96B...
Biggest Web Public Offering...
The increasing importance of 1370ish:
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=3&dy=0&i=p85200903176&a=94546561&r=1336141222362.png
Edited by Rogerdodger, 04 May 2012 - 09:36 AM.