COLM gapped right up to a resistance a couple weeks ago. Looks like it will fall back into that gap; related stock GOOS and the XRT are showing weakness.
December Employment Report Preview Thu, Jan 9, 2020 After several weeks where employment-related data was mixed relative to expectations, we’ve begun to see some signs of improvement as jobless claims have edged back down. Even with that improvement, though, there have still been some mixed signals. Those mixed signals haven’t resulted in a lot of angst on the part of the market heading into the report, though. That’s because recession fears mostly seem to be in the rearview mirror, and the Fed has basically taken itself out of the picture regarding any potential hikes. Heading into tomorrow’s Non-Farm Payrolls report, economists are expecting an increase in payrolls of 160K, which would be a 106K decline from November’s blockbuster reading of 266K. In the private sector, economists are expecting a similar decline from 254K down to 153K. Job growth in the manufacturing sector is expected to decline from 54K down to 5K. Even with the expected big decline in Non-Farm Payrolls, the Unemployment Rate is expected to stay unchanged at 3.5% while average hourly earnings are forecast to increase 0.3% compared to November’s reading of 34.4. Ahead of the report, we just published our eleven-page preview of the December jobs report. This report contains a ton of analysis related to how the equity market has historically reacted to the monthly jobs report, as well as how secondary employment-related indicators we track looked in December. We also include a breakdown of how the initial reading for December typically comes in relative to expectations and how that ranks versus other months.
Job market ends 2019 with disappointing 145,000 growth in payrolls Weird...hardly any movement in futures.....yet
Maybe ABMD has finally bottomed, I was down 6% or 8% at one point but now almost up 8% Thinking about to take a shot at SIX for a bounce play
The jobs report was ok I guess, not great and not terrible It looks like the FED probably will remain on the sideline for awhile with this kind of report. Liquidity continues to help to drive this market higher, would be interesting to see how this market reacts once the FED stops the repo
Yeah, looks like ABMD will trade between 165-225, important that it can hold that level on the next ER. I was going to short SIX yesterday, but I already had other short positions open. They...did not become hugely profitable overnight like SIX would have. Lots of volume trading today, and daily RSI below 20. Looks like a setup for a short term bounce.
Read a couple insights into VIX that may bear fruit in the next couple of weeks. One on Twitter (https://twitter.com/selling_theta/status/1214560135206592512 ) Not sure exactly what he is referencing, but it sounds like future contracts(?) on the VIX have a narrow spread currently, and that can lead to a VIX spike even when we are near ATH in SPX. Similar feel on https://www.mcoscillator.com/learning_center/weekly_chart/vix_is_not_confirming_higher_prices/ "But we have a major bearish divergence now in the VIX Index, which is NOT making lower lows to confirm those higher price highs."
looking like we could put in an outside reversal today on the indices? that is if we are to close at or near lod. that said, the futures still have an ONH made in the extended hours session (pre NFP). would have been better if it was in the regular hours
