Don’t Trust the Weak Jobs Report - Fed Is Going To Hike In 2 Weeks

One Option Trading Blog http://ift.tt/2rsd1WE Posted 9:30 AM ET - Yesterday the market staged a nice rally on the heels of a strong ADP report. The momentum was steady and the volume was fair (reached the 20-day average). Day traders can join the breakout, but I suggest keeping overnight long positions to a minimum. The downside risks far outweigh the upside rewards for swing traders. ADP reported that 253,000 new jobs were created in the private sector during the month of May. I trust this number and I do not trust the government's number. ADP processes payrolls for small and medium-size businesses and they know how …