sp'60min
sp'weekly
Summary
*I could say a great deal on the UK election, but I think I'll leave that for later...
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So, we're set to resume higher... first resistance is the upper bol' on the hourly.. currently @ 2104.
It is notable that despite the Thursday rally we're still net lower on the week by around 1.0%.
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China saw a strong overnight/end week gain of 2.3% @ 4205. I'm guessing that is a mere bounce after 3 days of sig' declines. Downside to the 4K threshold still looks due, and I will strongly consider shorting via FXI today... and hold across the weekend.
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Early strength: BABA, +2.0%.. as no doubt talk of the $100 threshold (gap zone is 92/97) will increase in the days ahead.
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Doomer chat with Hunter
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Have a good Friday.... stay tuned for the jobs update around 8.30am
8.31am Net job gains: 223k, headline rate, 5.4%... the lowest since May 2008.
Overall, the number is pretty much Goldilocks... not too low... but not too high.
Initial indexes... jump higher, sp +13pts, 2101.... approaching hourly resistance.
Sharp reversal in the USD, from +0.2%... to -0.3%.
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8.34am.. sp +16pts..2104.... if we trade sustainably above 2100s into the afternoon, its a major problem for those still holding short.
*it is notable that the March jobs gains were revised to just 85k vs initial 126k.
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8.43am.. sp +21pts.. 21079.... bears are losing all control here.... its getting ugly.
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9.10am... Barring an extreme reversal to the downside - seemingly now unlikely... the opening gains are going to trash any hopes of 2040s.
It would appear a Goldilocks jobs number has saved the bull maniacs.
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*as things are... I can't now consider shorting FXI. On the flip side.. I ain't much interested in going long at these levels.. or into the weekend.
9.36am.. Bears losing all control... we're now net higher on the week... even a late morning/early afternoon retrace won't negate the turn now being clarified.
9.46am... outright bear massacre... gods help those who aren't running with short-stops... if we keep going up into mid June.