Jobs Report Smokescreen

Jobs Report Smokescreen

The stock market is selling off in response to the jobs report and SPY is set to gap down and open at ~112.4. It's not a great opening, but it's not that bad either and so I feel like it's an over-reaction and MMs will use the jobs report to create a mini-shakeout. So SPY may pullback all the way to 111.7 or even to support from trendline A, but I expect SPY to hold support and rally off these support levels. I will definitely be adding to my longs if SPY hits 111.7. I wouldn't be surprised to see an early morning dip followed by a afternoon rally to bring SPY closer to 113.5

LOADING
(optional)
(optional)
Copyright 2009. All Rights Reserved.   Site Map
Disclaimer: All content on spychart.net is intended for recreational purposes only. Consult a licensed financial planner before making any decisions with financial ramifications. The author is not liable for any financial, mental, physical, or spiritual loss or damage incurred by the reader.