Non-Farm Payrolls and why Stock Market Investors/Traders are Laying Low 

Tom Gentile

Posted in
Big Picture

By: Tom Gentile
August 4th, 2022

2 mins read

Sometimes No Action is the Best Action

US Non-Farm Payrolls are due to be announced tomorrow morning.

This report always has the chance to set the tone for what one can expect for market direction now and in the coming months.

The markets have a chance of seeing price volatility due to the numbers and whether they hit expectations or not. This potential volatility that could come the markets way is a reason we believe the markets were quiet today.

Take a look at the SPY today. Can you see what happened? Neither can we.

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Figure 1: 120-day Candle Chart on SPY

Let’s zoom in and see if that helps seeing what happened today.

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Figure 2: 30-day Candle Chart on SPY

That didn’t really help that much either.

What you are seeing is a narrow range bar. That means the distance between the high and low of the day was small.

It is also what’s called a day of indecision in that there wasn’t a clear winner between the bulls or bears in that it didn’t close that dramatically higher or lower than its open price.

In Japanese parlance that is called a Doji- day.

It might be wise to hold off from trying to trade too much on an intra-day basis and let the numbers and the resultant knee-jerk reactions to it play out and then look for your spot.

App: Toms Option Tools

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