what is happening... the stocks are going the wrong way!!! lol I feel like this is the first big selling I've seen since December! UVXY/VXXB have gone just about vertical since the FED.
I think Cy mentioned that May has actually been pretty nice to the market in recent years, are we going to see "sell in May and go away" for real this time?
hmm, i don't have a chart in front of me right now, but can someone confirm if we closed below yesterday's lod on the spx? is it an outside day? we did print a new ATH in the cash today and closed pretty darn close to the low's of the day.
one thing about this however is that we did not actually print a new ATH in the RTH session today in the /ES futures...that happened during the ETH session in the overnights which is kind of a conundrum. you usually would like to see the ATH printed in the RTH for it to be a meaningful excess high. the shadowtrader guys used to always point that out in the market profile. hmm...
Yeesh - I didn't get a look at the XLE/XOP charts until just now. They got smoked yesterday. Might be a good buying opportunity if the bleeding can stop
USO down 3.6% right now. Gold futures down 1%. Personal account went from +1.4% to only +0.3%, lot of my stocks giving up their first hour gains. Funny though, growth is outperforming value for today. Still watching this [edit: well it was, until I took the snapshot]
April Employment Report Preview Heading into Friday’s Non Farm Payrolls (NFP) report for April, economists are expecting an increase in payrolls of 190K, which would be a modest decline from March’s slightly stronger than expected reading. In the private sector, economists are expecting an increase of 185K, which is slightly better than the last month’s reading of 182K. The unemployment rate is expected to remain unchanged at 3.8%. Average hourly earnings are expected to grow at a rate of 0.3% versus the surprisingly low 0.1% reading last month. Finally, average weekly hours are expected to be unchanged at 34.5. Last month’s solid report was the first time this year that the monthly change in NFP was within 100K of the estimate, so hopefully now that the kinks from the shutdown are behind us, we will see a return to the trend of reported results being in the ballpark of expectations. Of the top performing stocks on days when NFP beats expectations, eight sectors are represented, but Consumer Discretionary and Energy lead the way with seven each. Mattel (MAT) and Vornado (VNO) have been the two best-performing stocks with average open to close gains of over 2%, while Western Digital (WDC) and Cognizant (CTSH) have been the most consistent to the upside with positive returns 85% of the time.
Wage growth will be something to watch for the jobs report tomorrow. If we see solid wage growth then bond yields could head higher and put a little bit of pressure on equities
Well looks like we got a jobs report that the market likes, strong headline number but moderate wage growth
