“The number of U.S. workers receiving unemployment benefits has trended down to levels last seen in the early days of the recession — a signal that the jobless rate is poised to fall in the coming months.” Story at…
Quoting BLS: ‘Unit labor costs in nonfarm businesses fell 4.3 percent in the first quarter of 2013, the combined effect of a 3.8 percent decrease in hourly compensation and the 0.5 percent increase in productivity. The decline in hourly compensation is the largest in the series, which begins in 1947.’ Mish blamed the FED and Obamacare for the declines. Here’s the link for inquiring minds…
Thursday, the S&P 500 closed up 0.9% to 1623 (rounded).
The NTSM system sold at 1575 on 16 April. (This is just another reminder that I should follow the NTSM analysis and not act emotionally – I am under-performing my own system by about 2%!)