03 October 2014

SP 500 and NDX Futures Daily Charts - Big Bounce Off Support

Stocks in the US came off support with a sharp rally based on 'better than expected' headline job additions number from the Non-Farm Payrolls Report.

The actual number of jobs estimated to have been added exceeded expectations at 248,000 vs. a consensus of 210,000.

The jobs that were added were weak, low paid jobs being taken primarily by older people in the 55+ category service industry.

Wage growth fell short at "zero" as in stagnant, and losing ground in real terms.

There is no recovery.
 The financial sector continues to skim the life off the American economy.

Have a pleasant weekend.