Market Thought... da jobs

Jobless Claims were pretty good on Thursday. The number is currently at the low end of its range.

With such choppiness in the Jobless Claims, last month produced an Employment Situation that was below expectations. This month may produce something similar. Current expectations is that of 113,000 jobs created (or 130,000 private sector jobs). The August employment number was below expectations, yet the market held up far better than I expected. Maybe this will be a similar situation.

The market is fairly consolidated with the SP500 pulling back to the 20 SMA and the treasury yield pulling back harder with a very oversold position.

A solid jobs number will push the treasury yield higher, and fuel for the market (and justify higher multiples on stocks like GOOG, AAPL etc).