Fewer Jobs – More Bad News

The bad news is mounting and the 200-day MA is within striking distance.

PRE-OPEN MARKET COMMENTS WEDNESDAY - Now the selling pressure is becoming more sustained. The market is spending more time below the 100-day MA and it almost touched the 200-day MA yesterday. The negative news is piling up and this morning we learned that 77K new jobs were created in the private sector in February. This is the lowest number ADP has reported in over a year and 141K new jobs were expected.

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