All About The Jobs Numbers Tomorrow

Well was a good day all round, but we must remember that the market is still trending upwards. Too many traders are trying to call a top and getting burnt!!! OUCH!

As you can see the market did try to break down out of this upwards channel, but the bulls came right back up, and now we are trading in the channel again. You do not have to be Einstein to work out that is pretty bullish, at least in the short term.

As I have been mentioning lately, it is all about the USD, and see how the price came right back to the falling resistance I was talking about a few days ago! WOW! It stalled and back down we went today, to give bulls another excuse to take the market higher. 

The market at the moment seems to take a few days to back and fill and create a higher low, and then then the bulls come right back to take the market higher.

Friday it will be all about the JOB numbers. So I do not think there will be much action till the numbers come out during the day on FRIDAY!!

Happy trading.


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Bulls 2 Day March! - Ole

TGIF (Thank God It's Friday), Well it has been a long week, the jobs report came out today a little bit on the weak side, but again as sentiment keeps saying that really has not affected the S&P to the downside. We had a Very typical small range that normally occurs after a big up day. Even though it was a smaller range day today it seems that the bulls still have control of this market for now.

What we do want to note is that the market right now is up against its 1440 highs a level we saw back in MAY 2008, and that is a very important level there. Again, we must be cautious, but sentiment trader is warning there is a bit of a small melt up type situation that seems to be playing out.

The market still remains strong and within the upwards channel we have noted several days ago.

There is not much economic news coming in the next few sessions, however there is the FOMC next week, that alot of traders will be watching.

Happy Trading :-)

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