Morning folks! Market is looking at a flat open so far as people are awaiting the jobs report. Another flat day in the markets tomorrow as the market is digesting this massive run up and awaiting the jobs report. Jobs days are a bit tricky and one of my most unfavorite times to trade. Of late we have been seeing down days on this particular report but its very hard to game. Often bad news is good news and good news is bad news but bad bad news is really bad news…the reactions are a bit mixed. Today which ever happens it will be important to be nimble or just sit back and let things materialize as there often is a headfake. We are in a bit of a tight range so ill be watching the high and low of this week to see which way the market is leaning. My first level of support is spx 1300 for when i start to get a bit defensive.
well it looks like the number is good and its off to the races: careful chasing this gap up…let a setup come intraday. I personally like to sell my overnights or take partial profits on them then deploy capital over to fresh setups. We are hitting resistnce already premarket so we might be at a wall. watch how the market acts around that spx 1338-1340 zone.
sorry for no video… my net is all soorts of slow the past few days in this new place.
gappers of interest today from the good folks at trade-ideas — zolt, zynga, motr, thld, gnw are of interest
