JOLTs
Added 2024-06-04 20:10:00 +0000 UTCJolts data today just pushed the market in to chop area - question is when do bad news (bad labor data) are actually bad for the market? Albeit, the market is not a direct mirror of how the economy is performing. We get the NFP data on Friday and that'll be really interesting to see how the market perceives that data. Will continuing soft labor numbers get the fed to finally cut rates? So far, after the data this morning, fed swaps still suggest 3 rate cuts starting September. Could we see a surprise cut in July?
Remember, market is likely sideways in to event and then the real move is actually next Wednesday CPI/FOMC.
Our projection still suggests we will breakthrough 5300 $SPX $SPY 530 this week.
$AMD lost the 160 level has gap to 153 possible in Play. $NVDA made another ATHs today at 1166.
$AAPL needs to break 195 and on to 200 is in store.
$AMZN I like the setup!!
