Bad New Is Bad News?

September 5, 2023
Author: Peter Stolcers, Founder of OneOption

The reaction to the jobs report Friday could be a sign that investors are worried about a recession.

PRE-OPEN MARKET COMMENTS TUESDAY – Last Friday the market got a “Goldilocks” jobs report. It was “not too hot and not too cold” and hourly wages dropped to .2% easing inflation fears. Right when it looked like we might get a “gap and go” rally and another leg higher, sellers smacked the opening rally down. The market dropped to the low from Thursday and it never recovered. This price action is a reminder that sellers are close by.

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