Friday, December 5, 2008

Jobs Data Worse Than Expected...Jobless Rate Rises to 6.7%

Good morning everyone! The jobless rate was worse than expected this morning and past jobs numbers were revised downward after the report. Futures have naturally sold off but are still not in depression mode as of yet. I think this is partly because most people expected a bad number this month so the data isn't all that surprising. Below I posted my support and resistance targets for the SPX. Tighten up stops on your longs and let your shorts run wild today.