TVO Market Barometer 4/2/15

TVO MB 4-2-15b

There are certainly a lot of folks out who think that poor job numbers will delay the rate hike and are therefore a good thing. Those would be the ones who gave up-volume a significant boost on Thursday and some of the last few sessions (Friday’s report was old news for them) . But then there are the rest (including many futures traders) who seem to feel that lack of jobs might actually be bad for the economy and are ready for heads to roll Monday morning. They’ve already been unloading their positions, as we’ve had quite a bit of selling and distribution since 3/24, so the best bet for the bulls to get back above the 50 day would be that we don’t have many sellers left to sell. If that’s the case we can expect maybe a big flush or two and then business as usual… at least until we hear from the Fed on Wednesday. -MD

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