It’s unusual, to say the least, for me to wake up late. My body alarm clock is usually quite reliable. I guess yesterday was such a disappointing eye-roller, that my body basically said, “aww, screw it, stay in bed”, so I missed the entire jobs report and the reaction. Turns out it wasn’t a big deal. The jobs report came in below expectations, and the year-to-year trend definitely shows the sheer rate of jobs growth is easing (let’s face it, there are only so many jobs anyway, although where I live there are still Help Waned signs everywhere you turn).
The reaction in the world of bonds was favorable:
Whereas in stocks, there was a bit of selling. This chart looks dramatic, but it isn’t, because there frankly hasn’t been much movement for the past dozen hours.
I remain light-as-a-feather but will start thumbing through my watch lists and looking for decent risk/reward ratios.
Also, we’ve go a very cool new technical indicator rolling out with SlopeCharts soon, and I look forward to sharing that news with you.