One of the most volatile days came to an end on Friday. The markets initially reacting to the amazing jobs report of just 11,000 jobs lost in November. Then, selling hard as the dollar began to squeeze. So where is this market headed? First, let’s take a look at the jobs number. In reality it must be recognized that manufacturing still took a terrible loss on jobs while services gained. So why is this a problem? Well considering retailers were hiring for Black Friday a week plus ago and they are hiring for the Christmas season, that would be your services jobs gained. Manufacturing is where you really want to see the jobs added. Service jobs are exactly what got us into this mess in the beginning. What do I mean by that? Well the US is all about buying things from other countries and selling them here. That is one of the main problems; we do not manufacture anything any longer. So to see manufacturing still take a hit is a big flashing light saying “warning”. To gain service jobs, especially in retail means absolutely nothing as those jobs will vanish come January. So here we sit today. The markets are flat as the dollar consolidates off the huge squeeze move on Friday. Watch the pattern the dollar makes. Should be form a beautiful bullish flag pattern, this market may get smoked later this week or next week as the dollar spikes. In addition, watch the master levels I have laid out in the videos. Learn the confirmation technique and profit.
