SHOCKING JOBS REPORT BUT PAY ATTENTION TO THE NUANCES – EXCUSE FOR A FED RATE CUT
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Shocking 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 SPY touched the top band of the support zone.
- The chart shows that SPY is bouncing upwards from the top band of the support zone on the jobs report.
- RSI on the chart shows that the stock market has relieved the overbought condition and is now able to go higher if the market likes the results of the election.
November 1, 2024