Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Investing in the METAVERSE Stocks Universe - 8th Dec 21
Stock Market Sentiment Speaks: I Expect 15-20% Returns For 2022 - 8th Dec 21
US Dollar Still Has the Green Light - 8th Dec 21
Stock Market Topping Process Roadmap - 8th Dec 21
The Lithium Breakthrough That Could Transform The Mining Industry - 8th Dec 21
VR and Gaming Becomes the Metaverse - 7th Dec 21
How to Read Your Smart Meter - Economy 7, Day and Night Rate Readings SMETS2 EDF - 7th Dec 21
For Profit or for Loss: 4 Tips for Selling ASX Shares - 7th Dec 21
INTEL Bargain Teck Stocks Trading at 15.5% Discount Sale - 7th Dec 21
US Bonds Yield Curve is not currently an inflationist’s friend - 7th Dec 21
Omicron COVID Variant-Possible Strong Stock Market INDU & TRAN Rally - 7th Dec 21
The New Tech That Could Take Tesla To $2 Trillion - 7th Dec 21
S&P 500 – Is a 5% Correction Enough? - 6th Dec 21
Global Stock Markets It’s Do-Or-Die Time - 6th Dec 21
Hawks Triumph, Doves Lose, Gold Bulls Cry! - 6th Dec 21
How Stock Investors Can Cash in on President Biden’s new Climate Plan - 6th Dec 21
The Lithium Tech That Could Send The EV Boom Into Overdrive - 6th Dec 21
How Stagflation Effects Stocks - 5th Dec 21
Bitcoin FLASH CRASH! Cryptos Blood Bath as Exchanges Run Stops, An Early Christmas Present for Some? - 5th Dec 21
TESCO Pre Omicron Panic Christmas Decorations Festive Shop 2021 - 5th Dec 21
Dow Stock Market Trend Forecast Into Mid 2022 - 4th Dec 21
INVESTING LESSON - Give your Portfolio Some Breathing Space - 4th Dec 21
Don’t Get Yourself Into a Bull Trap With Gold - 4th Dec 21
4 Tips To Help You Take Better Care Of Your Personal Finances- 4th Dec 21
What Is A Golden Cross Pattern In Trading? - 4th Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - Part 2 - 3rd Dec 21
Stock Market Major Turning Point Taking Place - 3rd Dec 21
The Masters of the Universe and Gold - 3rd Dec 21
This simple Stock Market mindset shift could help you make millions - 3rd Dec 21
Will the Glasgow Summit (COP26) Affect Energy Prices? - 3rd Dec 21
Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock - 1st Dec 21
Stock Market Sentiment Speaks: I Fear For Retirees For The Next 20 Years - 1st Dec 21 t
Will the Anointed Finanical Experts Get It Wrong Again? - 1st Dec 21
Main Differences Between the UK and Canadian Gaming Markets - 1st Dec 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Does Anyone Care about the U.S. Jobs Data?

Stock-Markets / Stock Markets 2010 Nov 05, 2010 - 03:52 AM GMT

By: Trader_Mark


Best Financial Markets Analysis ArticleI've already figured out tomorrow's analysis on the monthly jobs data

If it's worst than expected, we have QE2
If it's better than expected, we have QE2

(again I am counting on better than expected because ADP report said 43,000 and birth death model says small business is booming in America so we could clear 100K easily - but it is all moot since it doesn't really matter anymore. Data is old fashioned)

Hence no need to wake up before 9:29 AM to analyze the news. This morning weekly claims jumped some 20,000+, back over 450K but that was just a bothersome footnote.

Turning to the S&P 500 the Relative Strength index has burst into major overbought for the first time during this melt up from the August lows. Using the 'rubber band theory', in which the market generally stalls when the index is 2.5%ish away from the 13 day moving average [Oct 13, 2010: Pulling the Rubber Band] we are also right at the full extension level.... 2.5% above the 13 day. (the range has been 2 to 3%) Hence if we gap up tomorrow it might be an excellent time to put some short position on (that can only last for a few hours due to Monday morning gap up)

NASDAQ has already been here (again only one >-1% loss on that one in approaching 2.5 months)

Pulling out farther, April highs in the S&P 500 are 1219.80 (April 26th). We always seem to have trouble breaking key resistance levels during market hours, so that's why we have premarket. Tomorrow's job report looks like a great way to ramp up futures in light trading to get over that level if we can't do it in this last hour. Then what? (NASDAQ already cleared yearly highs today)

3 year chart

Best I can tell something in the S&P 1250-1300 area aka 2 more gap ups aka next week. Gap up tomorrow on whatever the news is on employment. Then gap up Monday because it's a Monday. Then we can start gapping on POMO days... 1300 easy. Then 1500 in the next 6 weeks. All time highs by Valentine's Day 2011. POMO/QE2. All day, every (other) day.

I am contemplating taking some profits today, and then buying back on a move over S&P 1220, but that move should come in 16 hours right? Hmmmm

By Trader Mark

Mark is a self taught private investor who operates the website Fund My Mutual Fund (; a daily mix of market, economic, and stock specific commentary.

See our story as told in Barron's Magazine [A New Kind of Fund Manager] (July 28, 2008)

© 2010 Copyright Fund My Mutual Fund - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in