Bouncing on jobs number. 211,000 new jobs. Unemployment rate unchanged.
News:
Asia and Europe have a hangover after yesterday's joyride.
France especially, where they're getting a taste of authoritarianism, which may have been the goal all along.
And the tragedy in California seemed to revolve around yet another coincidental dress rehearsal.
We are in the business of pattern recognition. Recognize the patterns.
More gnashing teeth references, spreading into non-market related areas:
"The bill would defang the requirement that most Americans have health insurance or pay a fine." (emphasis added, and I hope it happens)
Meanwhile at the OPEC meeting in Vienna, it's all about herding cats . . .
FX:
Heard it yesterday, again, from the trader that I often fade. "The dollar is toast!...the dollar got crushed!...toasted and roasted...see ya, don't wanna be ya...."
Same stuff he said back in April.
Treasuries:
Still looking rather grim & hungover, especially after the jobs numbers.
Energy:
WTI crude awaits the fate of the OPEC decision. Up for now. NG up in sympathy.
Metals:
Gold, silver, and copper higher.
S&P Outlook:
Every once in a while I see a wave count that just feels right for some reason. Here's one I saw yesterday. 2019.39 is key. If it holds, new highs could happen soon. If not, 1997 might happen first.
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| Source: https://www.elliottwavetrader.net |
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