ANEMIC WAGE GROWTH BUT GOOD RETAIL SALES, OIL AND DEFENSE STOCKS FALL
By Nigam Arora
To gain an edge, this is what you need to know today.
Mixed Jobs Report
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows that tech stocks are now just under the top band of zone 1 (support).
- RSI on the chart shows that tech stocks are oversold. Oversold markets tend to bounce. This is especially important because positive seasonality is ahead.
- The momo crowd immediately bought stocks after the release of the economic data, but, as of this writing, the rally failed.
- The November jobs report was mixed. Here are the details:
- Non-farm payrolls came at 64K vs.
December 16, 2025