Good Morning everyone! I have been up pretty much all nice watching some FOREX markets that I was expecting were going to move much more than they actually did. I guess sometimes the early bird doesn't catch the worm after all. Still, we have some more job cuts coming down the line from Toyota and UBS which are two of the biggest companies around. This makes me think that if these huge multi-national companies are cutting jobs, what are the smaller companies who don't have as great of access to funding going to do with their employees? Moreover, reports are out that Capital One and Amex profit will decline sharply with consumer defaults. While this really comes as no surprise to folks, it still should be taken as just another warning sign.
I guess we will see what the jobs numbers tell us today. As usual the everyone is expecting horrible numbers, so unless we see numbers way out of estimates ranges, I think the market has already priced in some of this data. Below you will find the chart of the S&P with today's intra-day support and resistance levels. Happy Trading!
I guess we will see what the jobs numbers tell us today. As usual the everyone is expecting horrible numbers, so unless we see numbers way out of estimates ranges, I think the market has already priced in some of this data. Below you will find the chart of the S&P with today's intra-day support and resistance levels. Happy Trading!
