sp'daily3 - fib retrace
Summary
*jobs data: 295k net gains, headline jobless rate: 5.5%
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Clearly, well above market expectations.
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Unless market can quickly claw over sp'2110 or so... we'll surely slip back into the 2090s today.... and even have a chance at taking out the 2087 Wed' low.
As ever though...even a retrace to the 2060s is nothing for the bears to get excited about. Another wave higher to at least 2125/50 zone looks due by mid/late April.
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Notable early strength: BAC, +2.2%
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Have a good Friday, its almost the weekend!
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8.33am.... good jobs news is 'bad news'.... indexes turning red.
Metals snapping sharply lower, Gold -$12... breaking a new short term low...
8.38am... Indexes remain a touch red... the real action is in metals... Gold -$14... which is dragging down the miners, GDX -1.9%
8.54am.. sp -6pts.... so that is 2095.... just 8pts shy of the Wed' low.
9.07am... The news keeps on coming...
Dow index change: AAPL in..... to replace T.. at the March'18th close.
That is one way to help boost the Dow across the next few years, lol
9.26am... sp -12pts... 2089... 2pts to break the low...
Gold -$22... on its way to take out the key low of $1130.... Gold bugs feeling the wrath!