78 replies to this topic

[redfoliage2]

BTW, today's job data from Labor Dept bolstered well for the trend that the job market is loosening, and I'd expect Friday's data to confirm this trend  The 10Y bond rate looks agreeing as it dropped nearly 3% today .................

So ADP data out today also indicates the job market is cooling.  After the initial profit taking on the gap up it's likely to see the market to move higher...............................

Edited by redfoliage2, 06 December 2023 - 10:07 AM.

[redfoliage2]

 

BTW, today's job data from Labor Dept bolstered well for the trend that the job market is loosening, and I'd expect Friday's data to confirm this trend  The 10Y bond rate looks agreeing as it dropped nearly 3% today .................

So ADP data out today also indicates the job market is cooling.  After the initial profit taking on the gap up it's likely to see the market to move higher...............................

 

Now I see this an intra-day dip to buy as the gap has been filled...................

Edited by redfoliage2, 06 December 2023 - 10:36 AM.

[redfoliage2]

I see SPX above 4600 if Friday's job data further confirm the trend since the job data and PCE, both are Fed favorite data pointing to the end of the Fed rate hiking.  So, unless Fridays job data show something different bears going nowhere with their attempts...............

Edited by redfoliage2, 06 December 2023 - 11:16 AM.

[redfoliage2]

I see SPX above 4600 if Friday's job data further confirm the trend since the job data and PCE, both are Fed favorite data pointing to the end of the Fed rate hiking.  So, unless Fridays job data show something different bears going nowhere with their attempts...............

Meanwhile, the range bound gyrations to continue........................... 

[redfoliage2]

It looks that the bears trying to get the upper hand as the Street is mostly beared up.  I just took the profit and let's wait and see what it will bring by the Friday's job data .............................

Edited by redfoliage2, 06 December 2023 - 12:22 PM.

[redfoliage2]

BTW, there will be more job data out before Friday's NFP, i.e.  the weekly jobless claims out tomorrow morning.  Bears may need to pay attention ...........................

Edited by redfoliage2, 06 December 2023 - 01:28 PM.

[dTraderB]

Thank you TLT!
HSI & A50 up but way below last week's levels

[redfoliage2]

At this juncture I see the bull run is losing momentum.  Today the market even got sold on favorable data.  Now I'd be prepared for a sell-off in case of any unfavorable data coming out................

Edited by redfoliage2, 06 December 2023 - 03:03 PM.

[redfoliage2]

But the decision time is likely on the Fed day, till then dips to be bought, bounces sold ..........................

Edited by redfoliage2, 06 December 2023 - 03:22 PM.

[redfoliage2]

This dip very likely to be bought tomorrow  .....................

Edited by redfoliage2, 06 December 2023 - 03:50 PM.