Never a dull day in the Stock market with a daily news cycle like we are seeing now.
Out of the blue Thursday late afternoon, we get the news that N. Korea and the U.S. will sit down and discuss nuclear disarmament. And leading the negotiations will be Trump and Kim Un Son in person at a site to be determined in S. Korea.
In the meantime no testing and no objection to U.S. and S. Korea joint military exercises.
Interesting times we are having these days.
What is also interesting is the stock market pretty much shrugged off this news but at 5:30 the jobs report came out. It could not have been more positive.
The market did respond to that from off a fraction to now up 150.
In addition, the rumor is that the IG report will be out any day now. The reaction to that by all players in this long drawn out drama will be interesting.
The downside to the jobs report is what will the Fed do now. It’s almost a certainty that rates get hiked this month. But the market is most likely discounting that by now.
Today I will most likely be sitting back with few trades. I have to head out this morning for a few hours so I do not like to make day trades when I do not plan on being around the computer.
I do still have one trade going now with UNP. We are still aways from an exit on this one.
I am going to cut it short this morning as I have a number of things to do before I leave.
Good Luck Trading today
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.
It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)
Good Luck Today
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