SPY tell pattern update

FX:SPX500   S&P 500 Index
85 8
The employment numbers took the SPY futures (markets closed but future's trading) to a fib level. Wow this is getting juicy, a 3 day weekend, after adjusted numbers down too? MMMM. Note the trend angle of descent. So does 204.0 hold again? The market inflators better get out their pumps and start blowing or Monday could be a rude awakening.
NFP 126K << 250K WOW
I don't think it will hold...
Take a look at these:

A move under 204 would seal the deal here.
+1 Reply
IvanLabrie IvanLabrie
+1 Reply
claydoctor IvanLabrie
Good charts. I am more impressed with the strength of the eurusd. Tied to oil. Was thinking oil would go lower from here, most do, but what if the eurusd powers up, does not get to parity with dollar, and oil bounces too? That would bring the SPY down fir sure. All of that does not have to happen, however, a very weak earnings season could do it no matter what, which is what I think will happen, and doesn't matter what currencies do, or world banks. Maybe, just maybe, economic fundamentals will outweight their manipulation, and oh boy, watch out. What no FED controls working, talk about a shock to the market. ouch.
IvanLabrie claydoctor
This is indeed what I think will happen...grim scenario.
NickJoe claydoctor
commodities including oil might be on the rise because of the weakening dollar due to the anticipation of interest rate being delayed. not sure what market will do but it is damn weak for sure.
+1 Reply
I agree! it may be as simple as the dollar, strength causing weak GDP report next time, that would do it, maybe below zero.
+1 Reply
claydoctor claydoctor
now weakness, causing rise in oil , euro, would be oppo SPY.
+1 Reply
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