I was hoping to see the Q's fall below $50 before I enter the market. Well the Jobs Report just came out and futures are getting killed.
S&P 500 (MAR) -10.25
| Nasdaq (MAR) -18.50 | Dow (MAR) -74
So it does look like we will be touching the bottom of the trend channel and I will start buying down in that area.
This Jobs report will finally give the fed the catalyst to start some aggressive easing on the fed funds rates.
The futures market sharply drops immediately following disappointing employment data. December nonfarm payrolls grew by 18K, which is lower from last month's revised reading of 115K. Economists expected payrolls to increase by 70K, although a recent Dow Jones survey came in it 50K. The unemployment rate was 5.0% (consensus 4.8%), the prior rate was 4.7%.
S&P 500 (MAR) -10.25
| Nasdaq (MAR) -18.50 | Dow (MAR) -74 So it does look like we will be touching the bottom of the trend channel and I will start buying down in that area.
This Jobs report will finally give the fed the catalyst to start some aggressive easing on the fed funds rates.
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