Digit Madness

Trading expectations and the news are the meat of perceived value in all things traded. Today's job number is a example of 'digit madness' , where meager measurable economic movement is the catalyst for price play. But it is in the actual price mechanics where the battle will unfold and whether the bulls may be able to parlay meaningless data into a short covering romp. Price plays are always subject to the continued ability to move the trade position pile, making the other side pick up and move in one way or the other. The January 4th close and the subsequent break, marked a rejection of the larger bull trend in the three indexes, DJI, SP500 and NQ100. The DJI used that Jan 4 close yesterday as a low to vault into the current rally config. The SP500 and the NQ100 will either do the same with their Jan 4 closes, 1423 and 1985 respectively, or find them the dipping point of this rally.