Market Alert - Last Hour

The market is definitely playing around the edges today with the indices mixed but trading near the flat line.

SP500 -2.60, -0.12%
NASDAQ 16.40, 0.34%
DJ30 -32.29, -0.18%
SP400 0.16%
RUTX 0.22%
SOX 1.26%

Bonds remain a bit lower (1.39% 10 year).

Oil is down sharply after inventories rose (45.18, -2.25).

With the June Jobs Report out Friday pre-market, many don't want to do anything. There are calls for 200K, but there were calls for 200K in May as well. Basically this is a day of biding time ahead of that report but no one is really expecting a lot of movement in the report either.

Oil stocks are of course under some pressure but not dramatic. Metals ditto. Heck, even the utilities are down a bit, backfilling after some solid gains.

Not enough going on to get us wanting to commit to new positions ahead of the jobs report. Again you hear about 'the most important jobs report' to be released. Again. No, this is not that big of a report. It is the next report in a series, and this one is just going to show the same characteristics they all have shown, perhaps a bit more jobs but the same kind of distribution. Even so, we prefer to counterpunch off the report versus get out in front of it.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
______________________________________
Alert Key
http://www.investmenthouse.com/alertkey.htm


Customer Support: http://investmenthouse.com/contact_us.php