The job loss was less than expected although unemployment rate increased. We are getting close to 960 in SP futures which was my target. The main question is can we close above 960 today....if we do we could see 1040 otherwise we will likely retest 880.
2 comments:
thanks for the update.
does this mean.. we should prepare to exit atleast some long positions ?
im still holding SMSI and SNS
I have gold... but im a believer in gold so im not selling that anytime soon.
No, this means that we should not initiate any long position especially if there is overhead resistance. SMSI does not have any overhead resistance so I'll hold it.
960 is just a profit target for short-term traders. If you are using margin I'll liquidate so that I'm not in margin. We still need to see how the day ends.
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