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Summary of the day

Non Farms payrolls came in double of expectations! Wages also grew per the report. Big big problem for rate cut bros.

Biden will use this on the campaign trail. The data is dubious at best.

10 yr spiked 4.84% to 4.04% yield

META up 21%!!! Important not to let in biases in trading. Like yesterday when I said I hate Facebook as a co. I bought META when it was originally FB and I made 3x. But it is an important lesson as while I got the trade right, I also shunned the company. Out of sight and out of mind, and never traded it again. So I locked in the gain in yellow. But I never traded the blue area.

Breadth

* 912 new highs

* 279 new lows

* 36% advancing 60% declining

* 39% below 50 day ma

* 36% below the 200 day ma

Stuck out

Strong

NVDA AMZN META

Weak

Housing

EXTR down 4.77%

KGC down 4.35%

KRUS down 3.87%

GDX down 3.48%

What to watch

Watch mag 7

Watch yields

Economic data

https://www.marketwatch.com/economy-politics/calendar 

Recommended by

Doomberg

Adam TaggartHerb Greenberg

Mentored by @BillCara

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