Yeah I guess some kind of a deal with China is already baked into the market, right now I guess market is just basically waiting for the details of the deal Definitely not encouraging to see the SPX failed to hold 2800. I am not too concerned just yet, still leaning bullish and think it is just a pause or some consolidation here. The market has gone pretty much straight up before this week
Is it just me or does it look like a head & shoulder pattern is forming on the SPY on the Weekly chart? I know that normally the right shoulder's formation shouldn't break must below the head support... just something I saw.
Good Friday morning to all. Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open- <-- click there to read! Hope everyone has a good trading day ahead on this final trading day of the week.
https://finance.yahoo.com/news/jobs-report-february-2019-220019378.html U.S. adds a disappointing 20,000 jobs in February
Morning Lineup — An “Everything Red” Morning Mar 8, 2019 Declines over the last week or so have moved all but two S&P 500 sectors back into neutral territory from what had been pretty extreme overbought levels. No sector has yet to move below its 50-day moving average, but Health Care is sitting the closest to its 50-DMA at the moment.
haha good call @stock1234 here's a chart plotting the NFP (headline #'s) over the past 5 years. @Steven_Burt is right, we have not seen a print this low in a loooong one that said, i find it interesting that the last 2 instances that we saw a print this low, we went on to print at least 100k for the next 15 months in a row. not once, but twice! may of 2015 printed 15k which then started a 15 in a row streak of 100k or greater NFP, and then sept. of 2017 printed 18k which started a streak of 16 in a row of 100k or greater NFP. that would be something else if this were repeated for a 3rd time haha. maybe a triple bottom on this chart? albeit we are late in the cycle now...
Not surprising to see jobs growth slowing at this point when we are this late in the economic cycle. Just one month though, this number could still be revised much higher when they report next month Seems like wage growth is pretty strong in this report as well, but also just one month. Last thing the Wall Street wants probably is that we continue to see weak headline number but strong wage growth that could cause inflation and the FED to hike
Just a few minutes before the close, market is cutting its losses here into the close Bears finally had a good week after the bulls enjoying for most parts of 2019 Hope some of you had a very profitable trading week. Have a good weekend guys and see you all again next Monday
haha that was quite the last hour turnaround there. i was wondering if we'd close green...that would have made it the 8th time in 9 friday's this year that would have closed green...close but no cigar so the spx is now on a 5 day losing skid, but i don't think we had a -1% down day during the losing streak? interesting. but more alarming are the transports which are now on an 11 day losing streak i think? i was looking at the trannies chart earlier and couldn't find a longer daily losing streak there since going back to 2009 anyway hope you have a great one @stock1234! thx for all the awesome contributions in here once again this week catch you back here same bat time, same bat channel on monday!
Yeah transports are now in correction territory too I believe I didn't really look into details for transports that much, so not sure if it was just the airlines selling off or pretty much everything like railroads and the truckers too Definitely concerning though
