Still Perfectly On Track

Again, I can't say it's a surprise being an election year and considering the cycle that had been set up last week, but Non-Farm Payrolls just sent ES popping higher.

Released On 11/2/2012 8:30:00 AM For Oct, 2012

	Prior	Consensus	Consensus Range	Actual
Nonfarm Payrolls - M/M change	114,000	125,000	30,000  to 168,000	171,000
Unemployment Rate - Level	7.8 %	7.9 %	7.8 % to 8.0 %	7.9 %
Average Hourly Earnings - M/M change	0.3 %	0.2 %	0.1 % to 0.2 %	0.0 %
Av Workweek - All Employees	34.5 hrs	34.5 hrs	34.5 hrs to 34.5 hrs	34.4 hrs
Private Payrolls - M/M change	104,000	120,000	104,000  to 167,000	184,000

This is a huge beat at 171k added vs consensus of 125k, the un-emplyment rate did rise a little to 7.9% as it is an average. There are a bunch of other minor details about the average work week and wage inflation, but they pale next to the beat.

Here's ES which closed yesterday at $1422.25 at 4 p.m. and now around the 1430-1431 level

Note the odd and rather large positive and then leading positive 3C divergence before the NFP came out.