Yesterday we started with a gap open and then sold off for the remainder of the day. We have a long weekend ahead and a non farm payroll report out this morning. That could set the tone for the day since it could provide another hint as to whether or not the Fed will raise the rate this month. The fear of an interest rate hike seems ridiculous to me. Personally, the sooner we get back to a normalized interest rate policy the better. I wish they would just raise the rate and get it out of the way so we can find the next thing to worry about.
We could start out with some high volume initially and then fade off for the remainder of the day since many big players have already started their vacation. I may exit a bit early myself since its going to be a gorgeous day.
I will be doing a live session this Sunday @ 8 30 AM Vegas time hope you can find the time to join me.
Have a fantastic weekend! Be safe and have fun!
08:30:23am
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USA Nonfarm Payrolls for Aug 173.0K vs 220.0K Est; Prior 215.0K
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08:30:23am
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USA Unemployment Rate for Aug 5.10% vs 5.20% Est; Prior 5.30%
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08:31:18am
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USA Average Weekly Hours for Aug 34.60 vs 34.60 Est; Prior 34.60
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08:31:07am
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USA Government Payrolls for Aug 33.00 vs 5.0K Prior
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08:31:02am
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USA Manufacturing Payrolls for Aug -17.0K vs 5.0K Est; Prior 15.0K
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08:30:43am
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USA Labor Force Participation Rate for Aug 62.60% vs 62.60% Prior
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08:30:33am
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USA Private Nonfarm Payrolls for Aug 140.0K vs 215.0K Est; Prior 210.0K
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Since I am planning on a short day I will be watching the following to see how we may be setting up for next week. There are still a lot of broken charts out there with lower highs
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