February 7, 2025

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Noisy 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 in the micro resistance zone.
• Bulls were certain that the jobs report this morning would trigger a breakout of the stock market above the micro resistance zone.  Bulls were hoping for weaker jobs data that would allow the Fed to cut interest rates in March.  Bulls got their wish in the headline, but overall the jobs report is very noisy.