Christmas Rally starting early this Year thanks to Jobs Numbers.
A Massive Short trap was sprung late yesterday..ahead of job numbers. Stocks went from being positive ahead of the last hour to going deep in the red by the close with triple digit losses on the DJIA.
Shorts rushed into the markets hoping for worse than expected numbers this morning. Not only did they not get what they expected, they got much much better than expected numbers instead.
Jobs numbers almost went positive and revisions next month could actually show positive jobs in Nov.
October job losses were revised to a loss of only -111k from -190k
So a revision of the only -11k job losses for Nov. could easily push it to positive numbers.
Yes folks it looks like we will have the Christmas Rally start early this year.
November Nonfarm Payrolls -11K vs -125K consensus, October revised to -111K from -190K