sp'60min
Summary
*monthly jobs: 203k net gains, headline rate down significantly to 7.0%
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Notable mover + DRYS +10 cents @ 3.70. The 4s would make things very interesting early next week.
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For a net weekly gain...bulls need to close +21pts to 1806..that is just about viable...
Action in the metals is pretty wild already...Gold has swung from -$12 to +$9. Wild day ahead.
stay tuned!
8.50am.. market..and media starting to get a little hyper.. sp +16pts.. we're set to open at 1801.
Indeed, the notion of a net weekly gain...VERY viable.
8.55am.Fed official Plosser on clown finance TV, he sure is anti-QE, lol. I'm not sure if Mr Market is going to take notice of him right now.
sp +18pts, set to open 1803.
9.09am...media going nuts.. Cramer '..its Cinderella'.
So..the big question is..how we close? Another weekly net gain >1806... a new high. >1812..or...a reversal?
VERY tricky to guess, but with the primary weekly/monthly trends UP..the default reasoning would have to be to the upside.
I can only imagine the horror out there this morning..not least if these gains hold into the weekly close.
9.19am...The daily charts will be offering a confirmed bull flag...if we close in the 1800s..
For the bears..this could be the worse end to the week of the year.. Upside to 1820/30s next week..if we close >1800 today.
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9.40am.. Well, we're holding 1800..and with a bullish MACD cross on the hourly chart...we could battle higher for the next few days.
There IS a real chance this is just a 'stupid' B wave bounce..but it might not be.
Anyone short/ looking to short...clearly, the short-stop line is around 1810/15.