Jobs Report Blows Market through Fibonacci Grid Sept 2

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

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).

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One Comment

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