Thursday, November 2nd, 2017

Jobs report helps the market


A better than expected number on employment of 236,000 helped boost the stock market upwards. The improving job sitaution will continue to keep a push in the market next few months. All major indexes including SPX , RUT and DOW finished ahead.

SPX is now with 25 points of the 2007 highs as discussed in this video. This could make a potential double top or it will push through higher making new highs. Technicians are cautious on this so far as to what may come. If there is a double top formation, than it is a bearish signal. But until that happens we cannot speculate where the market is going. We can only read charts and lay it out as it is. Speculation is just an opinion, a personal biased viewpoint which often leads to errors in judgement.

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