Options Trading News

May 2, 2013  Thu 6:21 AM CT

Initial jobless claims at 8:30 a.m. ET is the only release on today's calendar.

Economists expect that 346,000 people sought unemployment benefits for the first time last week, up from 339,000 in the prior period. Lower readings would be considered positive because it would mean that fewer Americans lost their jobs, while the opposite would be true in the event of a higher number.

The report will also be viewed as an early indicator of the pivotal non-farm payrolls report for April, due out tomorrow morning at the same time.
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As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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