Jobs Report Blows Market through Fibonacci Grid Sept 2

Sep 2, 2016: 9:08 AM CST

Oh my gosh it’s time to rush out and buy all the stocks because the Jobs Report was weaker than expected and the Unemployment Rate ticked up!

Sarcasm aside, that’s exactly what happened as economic weakness decreases the odds that the Fed will raise rates, which is bullish.

If it doesn’t make sense to you, welcome to the new normal of our Fed-stimulated market.

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

Here’s a reference guide of how to use and trade from these morning updates.

Price broke down under the 2,160 level into a Stick-Save Intervention play which thrust the market back into our main Fibonacci Grid.

Like a magnet, price power-rallied higher toward – and now above – our upper 2,179.50 level.

The market entered a bullish short-squeeze into the prior highs and ‘open air’ territory between 2,180 and 2,190.

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Corey Rosenbloom, CMT

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1 Comment

One Response to “Jobs Report Blows Market through Fibonacci Grid Sept 2”

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