Buckle Up For NFPs
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Yesterday‘s S&P 500 continued in the remarkable breadth moves, check new highs and new lows. True, daily breadth was unconvincing, but are the leading daily underperformers to keep lagging behind? I have my reservations, but let‘s focus on what‘s working – tech and communications – this is beyond AVGO or economic data that I am discussing at length in today‘s video.
What are my expectations as regards tomorrow‘s NFPs? Employment change preview yesterday came in very poor, but I‘ve commented on that right away in the premium channel both today and yesterday – price ascent called. Pressures are building up, but they aren‘t recessionary – be ready for turbulence on the data release, and together with AVGO earnings prospects, I‘m sharing that in the client section.
Looking at yields, funny what the dollar will do on the data.
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