There was a significant divergence between the Nasdaq and the SP today. It was driven by the financials and AAPL.
As you know, the Jobs Report was 'better than expected.' The drop in unemployment was due in large part to the shrinkage of those considered to be seeking employment, as reflected in the drop of the Labor Participation Rate.
The BLS has been playing it a little loose with the seasonality factor. The year over year of factor spreads are a bit wide.
Fiscal cliff is scheduled to arrive by Dec. 21 which is the last day for submitting legislation for 2012, unless they decide to make a special arrangement.
