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Wednesday, October 5, 2016

Soft ADP Report Sparks Relief Rally - Friday’s Jobs Number Could Be “Hot”


One Option Trading Blog http://ift.tt/2dxahRh Posted 9:30 AM ET - Yesterday we hit some air pockets. The market made sharp moves in both directions. As the day wore on the selling pressure started to build. I believe we will see more profit-taking this week. ADP showed that 154,000 new jobs were created during the month of September in the private sector. This was about 15,000 jobs light and the market likes the news. The number was good enough to suggest slow growth and weak enough to possibly postpone a December rate hike. Initial jobless claims have been declining the last four weeks and I believe this …

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