Good Morning Traders,
NFP report was not good this morning, but the market took it as a positive (so far). You can watch the video for an explanation of why, in my opinion.
What we are left with is a market that seems to have caught a bid. I would expect us to continue to try to squeeze higher.
While I think the squeeze higher is the likely scenario, if we do turn back lower, I think that is a bad omen for this market. We have just rejected lower prices, we certainly don't want to see the market return back to those levels.
I'm going to be looking for longs, and I expect the volatility to be lower today than it has been in recent days.
Good luck guys.
NFP report was not good this morning, but the market took it as a positive (so far). You can watch the video for an explanation of why, in my opinion.
What we are left with is a market that seems to have caught a bid. I would expect us to continue to try to squeeze higher.
While I think the squeeze higher is the likely scenario, if we do turn back lower, I think that is a bad omen for this market. We have just rejected lower prices, we certainly don't want to see the market return back to those levels.
I'm going to be looking for longs, and I expect the volatility to be lower today than it has been in recent days.
Good luck guys.