TL fakeout at the close is the most important, not how it reacts immediately on the jobs release. In addition, a minor horizontal support fakeout. The $1800 has a pretty strong both resistance and support. Price will have to start shooting through this level in a strong close for starters.
Interesting once again as gold rallied, Bitcoin did the opposite.
This time around, I haven't been observing all the intermarket play recently between the current debate of inflation, the bond yield (10Y) fell and DXY did not do much with the EURUSD being about 50% weighting looking similar. What is surprising is the rush to USDCAD and USDPY especially all the commodity ccys. This is interesting because I am getting the signal the market is factoring this jobs figure is bearish commodities implying the inflationary pressures forcing a tapering premature to the anticipated date. You also see that reflections on the US equity market sell off.
The Nasdaq could be a trigger from Didi delisting that whacked all the Chinese tech stocks. This will be interesting coming week as we digest if this is another sign growth story from QE can last if tapering kicks in or the Feds will start panicking if a big sell off ensues in the equity market.
From where stocks are at currently, there are probably more falls rather than a melt up. Another BTFD? I think so at this stage until we get a LL LH scenario.
