Jobless Rate Raises to 6.5%

Good Morning. Pre-market futures are mixed this morning as the jobless rate came in higher than expected. The US 240,000 jobs in October (big surprise) which puts the rate at a 16 year high. The dollar is also falling this morning with some speculation of a rate cut coming as the economic condition. I think that we might see a slight up day or every flat, and then continue the fall next week. Let's all keep in mind that people are losing their jobs, leverage is high, and consumer confidence is at all time lows. So, any buying should be short lived. Happy Trading!