Thursday, January 7, 2010

First Reaction to NFP

Recent articles, CNBC, and other financial media seem to be converging on the same theme.  A positive jobs report.  Consensus expectations have gone up as the market  averages have gone up.  Thus, consensus will be tougher to beat.  Now I still expect overnight strength leading up to the report.  But it seems more likely now that the first reaction to the report will be to sell it.

3 comments:

Anonymous said...

Will the up last until the bell or selling only in the futures?

Market Owl said...

I think we'll have a sell the news reaction right at 8:30 AM. I am less sure about what happens from 8:40 AM onwards.

Anonymous said...

Thanks. Meant down of course.