Oil Strikes Back!
$143.58~!
Do I still need to explain what happened today?
What about the dead cat bounce I mentioned yesterday? Well, I did say that it is contingent upon a series of great economic data but today's ADP employment report showed a lost of 79,000 jobs in June, which is the biggest single month drop in almost 6 years! This data does cast a shadow on how tomorrow's Job Report (see economic calendar) would turn out... so, no dead cat bounce... yet.
Do I still need to explain what happened today?
What about the dead cat bounce I mentioned yesterday? Well, I did say that it is contingent upon a series of great economic data but today's ADP employment report showed a lost of 79,000 jobs in June, which is the biggest single month drop in almost 6 years! This data does cast a shadow on how tomorrow's Job Report (see economic calendar) would turn out... so, no dead cat bounce... yet.
posted by Jason Ng at 5:30 PM
1 Comments:
What do you think of todays' bounce in stocks? Is it another Bear Bounce or a real recovery?
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