Outlook 04/05: Job creation posted a solid rebound in March, with nonfarm payrolls expanding by 196,000 and the unemployment rate holding steady at 3.8 percent, according to a Bureau of Labor Statistics report Friday. That was better than the 175,000 estimate and comes after a dismal February that had economists wondering whether the decade-old economic expansion was nearing an end.
/ESM19 Value: YVAH 2884 YPOC 2883 YVAL 2877 GAP 2883
/ES Plan: Yesterday market closed bullish and overnight looks balanced after jobs report, so we've these options:
A) If market remains above LIS-HVE 2889 with bullish internals, buy towards ONH 2893.50 and HVE 2900.
B) If market starts to move below 2889 with bearish internals, sell towards ONL 2880 and HVEs 2878-73.
Tips: Don't expect large swing sequences because we're getting less trading volume and less movement for each unit of volume traded. During last month, pure volatility has declined over 50%. That makes it difficult to estimate how much a market can move going forward.
Today's Economic Calendar
1:00 PM Baker-Hughes Rig Count
3:00 PM Consumer Credit
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
Questions via @verniman direct message (RTH) or email (After Close).
Glossary of terms
