Wall Street is waiting for sparks from the employment report, but we may have already seen the sparks with yesterday's rally. Nevertheless, there is still a chance for a sizable move today (1-2%). Therefore, I am going to wait for today's close (data) before updating the stock market summary table. The October decline pushed the evidence from bullish to neutral. Moving from bullish to neutral still favors the bulls because the prior signal was bullish. With a few indicators still bullish and a few neutral, I will wait for today's data and update this table on Saturday morning. In the meantime, if you have 7 minutes to kill, you can watch the final scene from Trading Places as they announce the crop report for orange juice. Click here.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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