A solid jobs report, and an unemployment rate of 4.3%, is giving the markets some much-needed direction (how about that……..95.7% are working! Although some might say it’s more like 63%…….but I digress). This is strengthening the dollar, as I’ve been hoping it would…..and like I wrote about two days ago.
At the moment, this is having the intended effect on gold, which is to weaken it. I am presenting short GLD and long JDST. Here’s what the front month is doing, and my desired direction.
Interesting, equities seem completely bored with the strong jobs. As I am typing this, the NQ is up all of six-hundredths of a single percentage point, which kind of suggests economic strength and robust jobs are sort of already factored in fully.