The eagerly anticipated jobs number came out for what your hero has persistently described as “the hottest country on the planet“. Try to spot the trend……….if you can:
That’s right. A persistent downtrend with the latest month being a job loss instead of a gain. The delta was over 100,000 jobs. So, there ya go. Hot country.
The imbecilic stock market absolutely gobbled up the news, sending indexes roaring to lifetime highs. As of this composition, every single index is still bright green, although the entire “pop” from the bad jobs news has been undone. Here is the /NQ, which has hit Ctrl-Z on its entire jobs report rally.
I got stopped out of a BUNCH of stuff I wish I hadn’t been stopped out of, in light of the reversal, but that’s life in the suburbs. I’ll carefully examine all the charts this morning to see what makes sense to re-enter.
Time to do my morning show……….see ya soon!
