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Published on Nov 3, 2016
The
S&P 500 initially tried to rally during trading on Thursday but
turned around to form an exhaustive looking shooting star. This suggests
that the sellers are still very much in control but we do have quite a
bit of support just below. Because of this, I think we are getting
continue to see quite a bit of volatility and with the jobs number
coming out today that makes a lot of sense. With this being the case,
break above the top of the candle I think will send this market looking
for the 2120 handle, and a break below could have this market looking
for 2080. Because of this, I think you must wait for the jobs number to
come out before making any type of trading decision.
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