DOUBLE MANIA DRIVES STOCK MARKET, BOMBING IS A ‘LOVE TAP,’ STRONG JOBS REPORT RAISES SPECTER OF RATE HIKE
By Nigam Arora
To gain an edge, this is what you need to know today.
Strong 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 as of this writing the stock market is going higher after the jobs report.
- RSI on the chart shows there is room for the stock market to go higher.
- The chart shows volume continues to be low. As we have previously shared with you, the reason for low volume is the momo crowd buying options, not stocks.
May 8, 2026