Friday, September 6, 2024 9:07 AM EDT
Not immediately to the ADP employment change, but following the ISM data, S&P 500 paid attention to the job market status – and another rally got checked. Nasdaq outperformance likewise, following AVGO earnings even more so. There were though pockets of strength (further discussed). The fear and positioning is for a very weak NFPs figure, and therefore I am looking for a bullish squeeze higher as the more probable scenario than continuing the slide with the same pace as before.
This is how I summed up the prognosis in our channel, and what the bond market clues look like.
(Click on image to enlarge)
(Click on image to enlarge)
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Disclaimer: All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.
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