The Nonfarm Payrolls report is out today on the heels of a 52-week high in the markets. Let's see what has happened historically in this scenario.
Key Event: Nonfarm Payrolls 8:30 am ET
Event Details: Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.
Day - Friday
Opening Gap Direction - Down
Market Status - New Multi-year highs in some markets yesterday
Instrument - ES, RTY, NQ, YM
Trading SetUp - Long
Market Trend - Bull
Trade Type - Intraday Entry
Entry - 9:30 am ET (Market Open)
Exit - 4:15 pm ET (Market Close)
Note: Most tests/studies are done going long using Future Indices. This is done for several reasons; so you can easily compare different studies/tests, and because of the high correlation of these Indices to other instruments. Make your comments and ask your questions below.
Click the "Sign Up" button below to receive the DailyiQ messages in your email inbox immediately as they are released.
Click below to share with your friends or colleagues
