Today’s rally is strong, and finally pushed price through the 50-day moving average.
When I saw the jobs number this morning, and how much it blew out the expectations, I very much expected when I turned my head back towards the monitors to see what the futures were doing in reaction to it, that they would be dumping big time similar to the GDP from a few weeks ago.
But, to my surprise, and to the pleasure of my portfolio, the market loved the report, as well as the fact that peace may be brokered in North Korea.
Below is the SharePlanner Reversal Indicator; it continues to shine with its accuracy and spot on call, last week, that we would see the start of a rally this week.
I expect an attempt in the next couple of weeks for the market to run towards its all-time highs.
Should be interesting.
Welcome to Swing Trading the Stock Market Podcast!
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