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The Employment Situation report”s knee-jerk – If, Then… Market Timing

The Employment Situation report”s knee-jerk

By Rod David | September 4, 2015 - 9:22 am

The Employment Situation report”s knee-jerk reaction from 1929.50 spiked down to test 1924 and then surged 12 points to 1936. Other considerations soon took over, taking price down sharply to fresh lows at 1910.50.

The volatility shows no signs of retreating, as the most recent pre-open range is essentially 1918-1924. That”s both wide, and developing almost entirely under a prior low.

Recovering 1921 and 1925 through the opening 15 minutes could put in a bottom for the morning. And this being a Friday, perhaps a bottom for the day. Anything lower would be vulnerable to retesting the 1910.50 pre-open low. And not already recovering through the open would be vulnerable to retesting the 1989.50 prior low.

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Posted in S&P