Jobs growth in August way off market’s expectation.
Last Friday, the U.S. Bureau of Labor Statistics reported 235,000 jobs being created in August, way below the market’s expectation of 720,000. The leisure and hospitality sector, the main driver behind the strong jobs growth for the past several months, added zero jobs amid the rise in COVID cases. With the...
Here's my take on the multiple outcomes the job market. Looking at the REAL data, not the bullshit cooked numbers of the labor bureau ! The U6 numbers are the closest one to the reality. So these are the ones we'll study here along with interest rates, market valuations and growth potential.
In July, 943,000 jobs were created
Highest figure since August 2020; main driver of this strong increase is the Leisure and Hospitality sector
Number of jobs created in June was revised upwards from 850,000 to 938,000
Number of jobs created in May was also revised upwards from 583,000 to 614,000
Total number of jobs at the moment is...
We have been in a strong uptrend (pink segment line) since November, which I have divided into 3 ranges.
We have tested the top of "Range 2" 3 times, and we are now breaking out. Either we continue into "Range 3", or we could potentially test the pink trend line once again (ghost feed representation)
Tomorrow jobs report could be...
Are the days of buying poor job numbers in the past? NAS is in a 5 min Bear Flag: rejecting the 8 EMA. The larger iH&S pattern on the 2 hour frame would be negated with a loss of 12667. Watching for a reaction at the .5 (black dashes) if we consolidate further on the news.
SPY closed up 0.7% yesterday.
Markets were again led by tech heavy Nasdaq.
A close above SPY 313.40 will start the next bull leg.
If SPY closes below 30y then the index can visit the lower support line in the down channel.
ES futures are up 23 handles as of now suggesting SPY opens about 0.7% higher than yesterday's close.
Jobs report on deck at 0830 hrs....
In past 6 trading days SPY has open higher than the close. They are selling the up gaps.
And buying the down gaps, as happened on the only green day in the past 6 days.
Yesterday traced out an inside day. Usually trading in the direction of the break of an inside day pays off.
However, at present, ES futures are trading 22.50 handles lower promising a gap down...
SPY close down yesterday -0.26% snapping a 4 day winning streak. The Nasdaq-100 index briefly touched a record high before rolling over to close more than 0.7% lower.
Labor Department’s latest jobs report is scheduled for Friday at 8:30 a.m. ET. Expected unemployment 20%.
ES futures are again higher 30 handles (+0.97%) as of now, as bouyant Wall Street/...
EUR/USD long daily in all timeframes 30m into daily
Oversold levels in Demarker, Rsi, BB etc. oscillators and indicators
1.09700 key level watch this price to go long when pullback
Expert advisor 1.11 target profit of +100 pips
Economic calendar release USD is expected bearish this Week
Especially Non-Farm Payroll coming this Friday
People sometimes confuse with trading the economic numbers' reactionary price action as part of "Team Fundamental Analysis" trader. I have a better word for that: Storm Catcher. I have a dear friend who trades this way, (@itsReal307 - his handle in tradingview) unlike most people I've seen, he's done it with success. I have tried it in the past, most of my big...
By Andria Pichidi - February 8, 2019
Canada’s job market is expected to show another modest increase to start the year, after the 78.4k surge in November gave way to a 7.8k rise in December. Canada employment should expand 10.0k in January. The unemployment rate on the other hand, is expected to nudge higher to 5.7% in January, from the 43-year low 5.6% in...
The job-market report issued by the Bureau of Labor Statistics was very strong. 312K new jobs created instead of a forecasted 177K, Blacks entering the job market as unemployed. This is good because they are no longer outside the job market. Next step is that they will be employed. There were other positive points as well, but you get the point.
USDCAD has dropped for a second straight day, putting in some more distance from the 20-month peak that was seen at 1.3663. A rise in oil prices amid a revival in risk appetite in global markets has helped the Canadian Dollar, while US Fed funds futures have now priced out Fed tightening expectations for 2019 and are factoring in a 25 bp rate cut at the 18-month...
Where are these jobs numbers coming from?
On 5/4, the latest U.S. jobs report came out showing unemployment at 3.9%(?!?) with 164,000 jobs added and wage growth virtually nonexistent.
The market (DIA) couldn't decide what to do with that news early on, but Apple (plus tech overall) and energy (stocks like RIG ) were credited with lifting the indices higher,...
The Asset has produced a head and shoulders pattern, which has already broken out of the pattern, so I would short but watch out for the jobs report tomorrow as the asset already has hit prior support, so if the jobs report is bullish for the dollar then it would be a short position until the lower Fibonacci level.
GOLD extended its decline from our initial target area 1210 to our secondary target area 1190. Despite being in bearish trend I expect gold to bounce to 1225-35 area from 1193 which is 50% retracement of the move from 1120 to 1263. Risk of further decline towards 1175 only if Gold fail to hold above 1190.