The Critical Jobs Report...
Another sideways day in the market today. Investors are obviously feeling very uncertain about what the jobs report is going to be tomorrow especially with today's jobless claims coming in higher than expected. Coincidentally, the Dow is also right at the doorstep of the strong 12750 resistance level. This means that tomorrow's job report may decide if the Dow breaks above the resistance level and go into the bull eruption I have been talking about for so long or turn around and come back another day. Jobs report is slated for release at 0830am EST tomorrow (see economic calendar).
posted by Jason Ng at 4:51 PM
3 Comments:
With today's job report, you still think the Jan low will not re-visited?
Lujern
Of course not! :) The weak job report plays exactly into the recovery scenario where we are seeing a capitulation in the jobs market at last! This is GREAT NEWS! :) See how the market rally today!
and yes, even if the market does not end up positive today due to the weekend, we should see a marked recovery over the next couple of weeks. read my full coverage later this evening.
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