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1. The ADP Employment number was released this morning. It showed a gain of 2.37 million.
Small businesses: 937,000
Large businesses: 873,000
2. Tomorrow, the BLS non-farm payroll report will be released at 8:30 am. Lets see the reaction from the market. If it follows the ADP report it should be positive for the markets.
3. FedEx (FDX) also reported earning and the stock is surging this morning. FedEx is a leading transport stock and the transports are a leading indicator to me. This is another positive for markets right now.
4. Gold and silver are down as part of their continuing consolidation. However they have been raging higher
5. VIX is going lower. Nick thinks it will test $25 soon. It’s a spike index. The tough part is timing the fear. It had a good run and now it’s consolidating.