Confluence of the "Stars"! ISM and Jobs Report Day!
Its here at last! Something that commonly happens only once or twice a year. Something which I mentioned in Monday's report!
The day the ISM Index and Jobs Report are released on the same day!
This could truly be a huge day if both reports turn in better than expected just like how almost all the recent economic indicators have been! That would also give the market that much needed rocket fuel boost to truly reach up for the 22K level and beyond now that the market has proven resilient and has reversed out of the recent intermediate correction.
As I mentioned in my report to paid subscribers yesterday, the market formed a critical reversal confirmation signal the day before, leading to yesterday's extremely strong market. In fact, the QQQ tracking the Nasdaq100 hit a new historical high yesterday! Good news for me and my Master's Stock Options Picks subscribers as we bought QQQ call options 3 days ago in anticipation of this move and it paid off! (did you miss making money YET AGAIN?? Hesitate no more and join me for just $1 now! Click now!)
However, if both reports turn out to be disappointing today, I would expect to see some profit taking on the strong move made over the past 3 days. In fact, looking at the bond yields and total equities put call ratio revealed that investors and traders are secretly pulling back ahead of today's numbers.
Jobs report will be released at 8:30am EST before market opens and ISM index at 10am EST after market opens. I will surely be watching for early reaction in the pre market futures upon release of the Jobs Report.
For now, the market turns a short term bull trend within an intermediate neutral trend within a primary bull trend.
The day the ISM Index and Jobs Report are released on the same day!
This could truly be a huge day if both reports turn in better than expected just like how almost all the recent economic indicators have been! That would also give the market that much needed rocket fuel boost to truly reach up for the 22K level and beyond now that the market has proven resilient and has reversed out of the recent intermediate correction.
As I mentioned in my report to paid subscribers yesterday, the market formed a critical reversal confirmation signal the day before, leading to yesterday's extremely strong market. In fact, the QQQ tracking the Nasdaq100 hit a new historical high yesterday! Good news for me and my Master's Stock Options Picks subscribers as we bought QQQ call options 3 days ago in anticipation of this move and it paid off! (did you miss making money YET AGAIN?? Hesitate no more and join me for just $1 now! Click now!)
However, if both reports turn out to be disappointing today, I would expect to see some profit taking on the strong move made over the past 3 days. In fact, looking at the bond yields and total equities put call ratio revealed that investors and traders are secretly pulling back ahead of today's numbers.
Jobs report will be released at 8:30am EST before market opens and ISM index at 10am EST after market opens. I will surely be watching for early reaction in the pre market futures upon release of the Jobs Report.
For now, the market turns a short term bull trend within an intermediate neutral trend within a primary bull trend.
posted by Jason Ng at 4:11 AM
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