Karpel’s Corner: Market Hovering Unchanged After Jobs Data

Welcome to Karpel’s Corner. This is where I throw out my thoughts on the markets and share some of my favorite strategies. I keep it market-focused, and never miss an opportunity to teach trading strategies and commentate on the latest trends affecting the financial markets. Hope you enjoy today’s post!

The US equity markets are hovering around unchanged into the Midday after in-line unemployment numbers.

Taking a look at the other offensive sectors that the bulls need to be working higher are the consumer discretionary ($XLY, -0.2 percent) and financials ($XLF, -0.3 percent) but they are showing relative weakness into the Midday. If there are any breaks in these two sectors, that could potentially shake the psyche of the Broad Market Bull.

There are some bright spots with technology ($QQQ, +0.2 percent) pushing to the upside modestly with chip makers ($SMH) showing strength. This a positive for the Tech sector especially after the hit $AAPL took this week.

Take some time to study the Tradespoon Bears conviction list over the weekend. 

See you next time at the Corner!