After Job Report

Outlook 04/06: The March jobs data is out and report disappointed. In March, the economy added 103,000 jobs while the unemployment rate held steady at 4.1% for the sixth-straight month. Economists had expected the report to show 185,000 jobs were created in March while the unemployment rate was expected to fall to 4%, according to estimates from Bloomberg. March’s report is also a big slowdown from the 313,000 jobs created in February.

/ESM8 Value: YVAH 2667 YPOC 2658 YVAL 2655

/ES Plan: Yesterday market closed balanced after Wednesday's trend day. Overnight shows a bearish profile (GBT 2610), moving below yesterday's range (YLOD 2644), so as usual we've these options:

A) If market remains below YLOD 2644 with bearish internals, become a seller leaning on 2644-43 towards HVE 2620 and GBT 2610. 'Look above and fail' is a signal of weakness.

B) If market starts to move above YLOD 2644 with bullish internals, be a buyer leaning on 2644-43 towards YVAL 2655 and ONH-YVAH 2667. 'Look below and fail' is a signal of strength.

Tips: When I mention 'bullish or bearish' internals, I refer to these internals to be positive/negative and/or at least the channel slope rising/falling. These internals can help you to confirm your decision.

Today's Economic Calendar

1:00 PM Baker-Hughes Rig Count
1:30 PM Jerome Powell speech
3:00 PM Consumer Credit
4:00 PM Fed's Williams speech

Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.

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