All of these reports and news events are just used to move markets. If it moves it too much, too fast, then it's going to flip. Understanding gamma is the key.
Reason was technical not fundamental IMO, as is quite often the case. CNBC likes to give a fundamental reason that matches the market move. ***Haven't watched them for years but this was the case back then.
Meh, reacted about the way I thought it would. Unemployment down,market up. Looks like it carried over to today.Even if all those newly created "jobs" are at Walmart,McDonalds,etc.
%% I DONT like the subjective word ''oversold'' Some used that there. 200dma/ Oct = bear killer /Stock Traders Almanac nickname . Also possible a few figured out the Fed [Reserve, not federal gov]may not raise rates. Like a metals dealer said, the Federal Reserve is not Federal[gov] + has doubtful reserves
I get that. FWIW, my "oversold" is very contextual and not just some oscillator but I understand how that can be misinterpreted.
%% OK; i seldom use that anyway. 200dma helps a lot/ even though sometimes it chops there a lot LOL.Of course there are quite a few different 200dma s