Previous signals to watch:
The stock market was weak & kept dropping yesterday after unexpectedly better Unemployment Claims data
This
showed that the market is more concerned about QE tapering even though
data showed a better economy & should drop more if Non-Farm
Employment Change is higher than expected & Unemployment Rate is
lower than expected today
Although other economic news might also affect the stock market, their impact would be lower
Look to sell S&P Futures if that happens & it drops more
Look to buy S&P Futures if the opposite happens & it goes higher
S&P Futures mostly stayed below 1790 yesterday & closed around 1784
After the market closed, it rebounded @ 1783 & broke above 1790 but dropped back from 1793.45
Possible support @ 1790 (1790.45) but stocks might get volatile near 8:30am's economic news
Buy @ 1790 at higher risk near economic news
1790 might become important turning point today
Trading
risk & market volatility increased today due to a lot of economic
news especially Non-Farm Employment Change & Unemployment Rate
Results:
Look to sell S&P Futures if that happens & it drops more- invalid
Look to buy S&P Futures if the opposite happens & it goes higher- invalid
Non-Farm
Employment Change was higher than expected & Unemployment Rate was
lower than expected but the market changed its pattern to buy instead of sell
S&P Futures went higher instead of dropping more, only dropped from 1792 to 1786 but jumped up to 1802 so both signals are invalid
Buy @ 1790 at higher risk near economic news- 2 wins
(Time shown is EST+13hours)
S&P Futures expired @ 1792.65 at 8:30am EST
It also dropped to 1786 but jumped back up above 1790 & expired @ 1801.15 at 9am EST
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