Technical Analysis

US stocks open with strong gains. Markets ignoring the strong jobs data

The US nonfarm payroll rose by a greater than expected 261K vs 200K estimate. The prior month was revised up to 315K vs 263K. The US stocks which were higher dip little in the premarket trade but then rotated back to the upside. The major indices open higher. The Dow is up over 350 points. The NASDAQ was up over 200 points, but the NASDAQ is a since come off its highs, while the Dow keeps its gains. Nike, Dow, Caterpillar are leading the Dow stocks to the upside.

Manufacturing jobs increase by 32K. Manufacturing – as result of infrastructure build – is the new tech sector.

looking at the US debt market since the start of the New York session (pre- nonfarm payroll)

USDCAD falls to the low of the swing area

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