The monthly jobs report just rolled in, and as a person who makes his living looking at pictures and making guesses about the future, I’d say that jobs and employment offers are quickly going out of fashion. The numbskulls who thought they avoided a major recession are in for a shock in 2025. Here is what the unemployment rate has been doing:
As the number hired from month to month gets progressively tinier:
Even before this news took, the /ES slipped under support, and equities are in plunge mode now.
Looking at the much larger picture on the /ES, it makes me worry if that supervillain Jerome Powell is going to spring an emergency rate cut on us this Sunday before the opening bell. Let me be clear: NOTHING Powell does from now on will help avert disaster. All he’ll be able to do is stave things off for a week or two to appease his billionaire friends. In the end, they’ll want to draw and quarter the fella.
When it comes to trading, I have pretty much only two mindsets:
ONE: This market sucks. Everything’s artificially propped up. I never want to trade again in my life. This is miserable. Every single day, the market goes to a new lifetime high; or
TWO: Why am I such a coward? I would have so much bigger profits if I could just sit tight. What’s wrong with me?
Like we all know, there’s no such thing as a happy trader. I have been firmly in mode TWO now for the past ten trading days. The money I’ve left on the table is starting to make the table’s legs groan.
