Surprisingly Volatile Intermarket Reactions to End the Week

Apr 7, 2017: 2:07 PM CST

This morning’s lower-than-expected Jobs Report didn’t shake up the equity market, but we’re seeing big reactions Friday in three key markets (and a surprise in one).

Let’s chart our intermarket grid and prepare ourselves for additional study over the weekend:

I’ll be briefing members fully this weekend but wanted to share a quick insight about money flow to end the week.

Put all these charts above in context of a FLAT or SIDEWAYS move today in stocks.

Gold surged higher along with US Treasuries – a defensive market – which is logical given the bearish Jobs Report.

However, we saw severe COLLAPSES in these markets mid-day with price erasing the gains and then some.

On the other hand, Crude Oil continued its uptrend creep higher above $52.00 per barrel.

The other surprise is the US Dollar Index which gapped up this morning and then surged higher this afternoon.

Watch these markets carefully into next week.

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Corey Rosenbloom, CMT

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