STRONG JOBS REPORT IS GOOD FOR THE ECONOMY BUT NOT GOOD FOR MOMO HOPIUM
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Good News For The Economy
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 the stock market is at the breakout line.
- The chart shows that the breakout line has been a support.
- The chart shows the stock market has been making lower highs since the market failed to break above the micro resistance zone. This is a negative for the stock market.
- Here is the key question for investors: Will the stock market break below the breakout line and move towards the support zone?
January 10, 2025