Revisions +90K. Earnings? What earnings..The US employment data was weaker than expected with the NFP coming in at 261K vs 313K, but there was a two-month revision of +90K. So can’t complain about that overall.
The earnings were not good. In fact they did not move this month and that brought down the YoY. Not good.
Technically, the markets initial reaction was lower. The price moved quickly below the 200 and 100 hour MAs on the hourly chart t 113.75-78 and took a look below the 50% retracement of the week’s trading range at 113.61, but quickly rebounded above all those levels.
We trade at 113.89 currently. There is a topside trend line that cuts across at 114.16.. The 200 and 100 hour MAs are support below (at 113.75-78). The close from yesterday comes in at 114.05.
So we sit between close support and close resistance.