(click on the picture for a bettew view)Today, the markets are waiting for the US Non-farm payrolls,unemployment and ISM Non manufacturing figures.
S&P500 is trading around 837 at 13.45 Amsterdam time. 835 is a key level for intraday movement and today's close.
Should the figures be good, we go for 865 first and then 930 maximum.I expect a down move from either of these levels depending on the supportive news.
With disappointing figures, the fight will be btw 810-835 next week long with 792-798 big support for the uptrend.
The news will be decisive for the health of the uptrend we have seen.For the long term, I do expect very high level of inflation due to the stimulus plans allover the world.
I recommend energy and commodity ETFs for long term investments.
Lets see if the bulls can take us to 865 soon.
UPDATE: 17.15 Amsterdam
Employment figures were inline but the ISM was lower than expected raising doubt about a recovery in growth.
Together with some profit taking, the markets are going lower. Right now S&P500 is trading around 825.
It will be a strong bullish sign if the markets close around 835. It is a really small probability though.
It is still ok for today as long as S&p closes above 810-815.
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