Week of October 7
How will the market will digest blowout payrolls?
Recap of last week
Last week I was bearish short term, as the JPM collar roll was used to squeeze bears before they dumped it for 3 days in a row.
On Thursday however, I flipped bullish for NFP as my data showed that NFP had a high chance of beating expectations due to JOLTs and claims inputs.
No multiple (useless) scenarios. Even a monkey could tell you bad payrolls = sell off and good pay rolls = rally. I informed my readers to expect a stronger print. And expect bullish price action. Point blank. No hiding behind ambiguity.
Although I wasn’t expecting that high of a number 250k plus, does that change my view for the back half of October.
Next move for markets
