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Market Stays In Flat Ahead Of Jobs Data

|Includes:ABX, AEM, APOL, EDU, ITT Educational Services Inc. (ESI), GOLD, NKE

The market was very choppy today.  It opened higher, but, soon dipped back to hover around the flatline.  A drop in consumer confidence prompted the market to be a little more cautious.  Education stocks were strong today.  ESI was up +2.42% and traded almost to $112 before closing at $110.05.  APOL added +2.17% and EDU hopped +4.06%.  After the market, NKE reported earnings that beat the estimates.  NKE shares traded +4.61% higher in after-hours, on top of its +1.85% gain during the regular session.

Gold miners bounced today (see discussion in Market Forecast/Sector Watch from this weekend):  ABX +3.42%, GOLD +2.47%, AEM +2.41%.

The Dow closed down 47.16 points; SPX slid 2.37 points; Nasdaq slipped 6.7 points:

BTK (biotechs) lost 1.92% while SOXX (semiconductors) fell 1.43%.  Commodity sectors were flat with select stocks making small gains.  GDX (gold miners) stood out, as mentioned above, with a +3.3% rise.  XLF (financials) was slightly lower.  FXI (Chinese ADRs) was flat.

SPX

SPX slid 2.37 points to close at 1060.61.  It closed right at the 10-day MA.  The MACD was lower.

Nasdaq

Nasdaq slipped 6.7 points to close at 2124.04.  It also closed at its 10-day MA.  Its MACD went down.

Looks like the market is staying neutral ahead of the ADP employment data tomorrow.  We'll also get the GDP data and crude inventories.  VIX came back to close above 25 today.  Still not a lot of conviction either way, which is to be expected in a consolidation phase, which was discussed in the Market Forecast this weekend.  There's also Jobless Claims data on Thursday and the Unemployment Rate on Friday.  So, be a little more patient this week.

Good night and HappyTrading! ™

Stocks: ESI, APOL, EDU, NKE, AEM, GOLD, ABX