The Markets are Selling Off Ahead of the Jobs Report

Tom Gentile

Posted in
Big Picture

By: Tom Gentile
March 9th, 2023

2 mins read

Iam off to my him in New Zealand for a week, but I will still have Daily Market Insight articles coming your way from me and my team.

The thing to really know about what’s going on with the financial markets is selling.  At least that has been the case this week as Chairman Powell spooked the market bulls intimating inflation is still a pain in the butt and interest rate hikes are still going to persist.

The Fed started to reduce the amount of the rate hike from a half-point to a quarter of a point, but it seems they may have to go back up to that half-point this next time.

That is not an indicator things are improving and the fact they may have to go higher again gives an indication the Fed doesn’t have things as much on hand as the markets would like.

Figure 1: 120-Day Candle Chart with Fibonacci
Figure 1: 120-Day Candle Chart with Fibonacci

Jobs Report

It seems like no one wants to be too long or get long equities ahead of the employment numbers due out tomorrow morning.

Figure 2: Economic Reports Due tomorrow morning: image from www.marketwatch.com
Figure 2: Economic Reports Due tomorrow morning: image from www.marketwatch.com

If there is any kind of buying to close today it could be those that are covering shorts ahead of the economic reports in the event they surprisingly come in giving indication things are more in line with what the Fed says they need to see to indicate they may not have to be as aggressive in their approach.

If the numbers support what Fed Chair Powell spoke of earlier in the week the SPY chart, Figure 1 shows pending support levels on a continued sell off.

App: Toms Option Tools

Toms Option Tools scan the markets for bullish and bearish trade opportunities using our proprietary scans and strategy algorithms. TTR Darknet finds bullish entries based on triple stack channel collisions. Money Calendar identifies seasonal patterns with at least 90% accuracy looking back 10 years. Weekly Cash Clock finds short term opportunities that last a week on average. Microcurrency Trader applies Darknet technology and moving averages to cryptocurrencies. Velocity Trader utilizes volume spike and Velocity indicators on custom stock lists. Quantum Scripts scans the markets for momentum acceleration signals and employs Quantum noise filters. Optimal Trader finds directional pre-earnings opportunities that are optimized for entry date, stock movement, and volatility surge. My Trades tracks the profit/loss of your trades, displays stock charts and risk graphs, creates new trades, and edits existing trades. Morning Report provides top 10 option rankings in 6 categories each day.


Disclaimers

Stock and options trading has large potential rewards, but also large potential risk.

You must be aware of the risks and be willing to accept them in order to invest in the stock and options market. Do not trade with money you cannot afford to lose.

This is neither an offer to buy/sell/ or recommend a particular stock or option.

Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been actually executed, the results may have under or overcompensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with hindsight.

No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.

Disclaimer of Warranties and Liabilities Tom Gentile and TomsTradingRoom, LLC including employees, consultants, and editors (“Publisher”) cannot and do not warrant the completeness or accuracy of the content found in our areas, or its usefulness for any particular purpose.

Tom Gentile and TomsTradingRoom, LLC also make no promises that our content or the service itself will be delivered to you uninterrupted, timely, secure, or error-free. Under no circumstances will Tom Gentile and TomsTradingRoom, LLC be liable for direct, indirect, incidental, or any other type of damages resulting from your use or downloading of any content on our site.

This includes, but is in no way limited to, loss or injury caused in whole or in part by our negligence or by anything beyond our control in creating or delivering any portion of Tom Gentile and TomsTradingRoom, LLC.

You are agreeing that you bear responsibility for your own investment research and investment decisions. You also agree that Tom Gentile and TomsTradingRoom, LLC will not be liable for any I, investment decision made, or action taken by you, or others based upon reliance on news, information, or any other material published by Tom Gentile and TomsTradingRoom, LLC.

Tom Gentile and TomsTradingRoom, LLC relies on various sources of information that we believe to be accurate and reliable. However, we make no claims or representations as to the accuracy, completeness, or truth of any material contained on our site.

Tom Gentile and TomsTradingRoom, LLC are educational portals, providing content for educational and informational purposes only. Neither Tom Gentile nor TomsTradingRoom, LLC are a broker/dealer. Investors need a broker to trade stocks and options and must meet certain requirements. All securities, futures, and investments data and ideas are offered to self-directed investors. All prices in USD unless noted otherwise.

A full disclaimer can be found here:  http://www.tomgentile.com/legal_disclaimers.html.

Sign Up Now for Free Education!