The unemployment claims came out today at 8:30 am with a little more of a positive feel to it. Initial claims were forecasted to come in at 488k, but actually came in at 473k (down from the previous week). Though this is an improvement, we must keep in mind that these claims, much like the market, do not travel in a straight line. We need to see weeks of improving numbers. Also, keep in mind the prior week was revised from 500k to 504k. There seems to be a little gaming here of bringing numbers forward to bring down the next weeks numbers (which has been discussed by alternative media of late). Though the markets are rallying off this news, keep your head on straight and stay focused.
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