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Post-market Wrap (Summary) – If, Then… Market Timing

Post-market Wrap (Summary)

By Rod David | September 1, 2016 - 9:08 pm

It’s not surprising to boot up and log in this evening to see the market did nothing significant after I left early. Firstly, the market is known for accommodating everyone’s schedule. Secondly, I willed it not to produce any surprises. And thirdly, the morning recovery’s momentum was running into anxiousness ahead of Friday’s Employment Situation report.

Like the prior two sessions’ recoveries, Thursday’s also stopped short of closing above a relevant resistance. Afternoon buyers gained no traction for their efforts. Extending higher Friday morning would require gapping up. Payrolls offers a catalyst, but that’s no assurance.

Meanwhile, I’ve noticed the market hasn’t rallied on traditionally bullish news of weaker economic reports. Those data would suggest the Fed won’t raise rates, which the market seems to want — if only to get it over with. Weaker payrolls could cause quite the decline into the weekend — especially now that last Friday’s low was chipped away Thursday. Otherwise, genuinely strong employment growth that seems to force the Fed’s hand could be very bullish.

There was no post-market Wrap recording here due to travel.

Monitor overnight Globex trading in the chaRTroom here.

Posted in Market Wrap, members-only, S&P