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Assessment: Jobs report comes in hotter than expected. It is good the economy is growing, but for the crowd that was hoping for free and easy money from the Fed returning soon…the news does not help. Rates have gone up on the news in the bond market and we have had a little selling in the futures. Today should be interesting to see if the news is met flatly…good for bulls and it shows no momentum from bears. On the other hand, if it opens under selling pressure and accelerates, this could be the opening the bears have been holding all their powder for.
Good luck in your trades!