Good morning. US equity futures are moderately higher, sp +12pts (ahead of the jobs data), we're set to open at 1955. USD is on the rise, +0.5% in the DXY 98.70s. Gold is cooling, -$8. Oil is +0.7%.
*awaiting the monthly jobs data.
So... overnight gains, and no doubt some equity bears are a little spooked. Broadly though, we're set for severe net weekly declines.
sp'1938 makes little sense as a key low, and I'd still look for another push lower to the 1920/00 zone... late today/Monday.
I hold to the issue in that the style in which we close today should give clarity on whether Monday is down big.
By 3.55pm we should know if the Monday open will be a bearish one.
Update from Oscar
Doomer chat with Mr H.
Germany: currently +0.1% @ 9987... struggling to claw back >10K
Japan: -0.4% @ 17697
China: +2.0% @ 3186... but that is a long way below the key 3400 threshold.
Have a good Friday.
9.11am... Am kinda tired... will be taking things a bit lighter today.
Suffice to add.. 292k jobs... well above mainstream expectations...
sp' jumps to +28pts... but we're currently already cooled back to +12pts.
Red indexes look probable.
The issue remains... in what manner do we close... for the setup on Monday.