MOTHER OF ALL REPORTS GOES AGAINST STOCK MARKET BULLS
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Jobs Report
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows that the stock market is consolidating below the mini resistance zone.
- RSI on the chart shows that the stock market can go either way.
- Stock market bulls had pinned their hopes on this morning’s jobs report, also known as the mother of all reports, to break above the mini resistance zone.
- Stock market bulls were hoping for a weak report, reasoning that a weak report could force the Fed to cut interest rates.
December 8, 2023