The futures immediately took off when the better than expected jobs report was released. Minutes later they fell back a bit, but they’re still up strongly as I type this. So at least for now it appears that the Nasdaq will gap over its downtrend line. The million dollar question is will it close above that line.
At the risk of sounding like a Naybob… We got the Job’s report, the slight gap open and the close above the trendline, but I want it all. The lackluster volume leaves me staring at the chart, checking my ticket and wondering when the next bus for downtown departs. Anyone else truly convinced that we are going too much higher from here. Or will the data from the great jobs report play right into the FOMC’s plan to continue the march on increasing intrest rates until…
Aston logic would tell you that the market would go up from here, but you need to trade what the chart tells you. See my explanation of how you could of played this mornings trade here.
http://dynamicfutures.blogspot.com/
Best regards,
Eureka