Wednesday, 2 May 2012

Pre-market Brief

Good morning, those ADP jobs numbers sure are disappointing the market. Futures were slipping to -0.75%. This is actually a little exciting, the key level remains 1395..and then 1380.

*ADP jobs data: 119k  (previous 209k) vs. expected 183k


Yesterdays last hour was pretty interesting, looking for good follow through this morning.

Bears need a lower low, preferably under 1390.
Bulls merely need to hold above 1395/1400..

A long day ahead...good wishes for Wednesday!