sp'daily5
Summary
Very little to add.
Market is awaiting the jobs data... sp'2040/50 is viable today... not least if we continue in algo-bot melt mode.
*I'm tired, a 'bear sacrifice' is probably necessary, and I might close out a semi-dead short-index position at the open. Only then.. might the market be able to fall, once I'm out.
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Early movers...
Oil/gas drillers: RIG -8% @ $27.50.... Q3 earnings were cancelled... with some $2.5bn or so of write downs. RIG looks headed for sub 20s.. not least if Oil slips to the low $60s by the spring.
SDRL is falling in sympathy, -2.1%
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8.31am.. Monthly jobs.. 214k... in line.. arguably the 'goldilocks' number.
Metals snap higher on the data.. Gold +$12... which is taking the miners with it, GDX +0.6%
sp +6pts... 2037.