As you have probably heard, the Non-Farm Payrolls report came in quite a bit light at 115,000 against the consensus number of 160,000.
The next move in the equity indices will be rather important.
“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot