I just checked the pivots and we just hit the monthly PP (floor pivots) right now, as volatility decreases. Also, given that tomorrow the new jobless numbers come out (look at the candle of the last one Thursday last week), it looks like setting up for a perfect storm. Anybody else having indicators scream for a short?
We've already had the jobs number published last Friday. I don't think there's much weight to tomorrow's number. But then again, anything goes these days with Corona.
Selling the close on any big up day and holding for 24 hours has been a great trade since late February....like 100% winning trades....at some point that trade is going to get railroaded with another big up day behind it.
I suspect that number will not be as bad as we might imagine, because the data will be for February and we didn't have as bad of an impact as all the shut-down orders and layoffs that came in March.