Daily trend expectations based on ranged forecasts from standard data:
Daily: Negative
Weekly: Negative
Monthly: Marginally positive
Quarterly: Positive
Annually: Marginally positive
Note: The daily and weekly conclusion are based on razor thin margins.
Daily trend expectations based on ranged forecasts with thumb down on recession indicator:
Daily: Positive
Weekly: Negative
Monthly: Negative
Quarterly: Positive
Annually: Marginally positive
The forecasts aren’t clear enough for me to take a positive with or against the index today. My best guess is a murky forecast for tomorrow, too, but we’ll see what the data brings. Invest at your own risk, especially as it seems the job report could be a source of market volatility even more than usual.