Nonfarm payroll increased by 110,000, market gapped up --> $840 profits
5 min Nasdaq Emini 100
Hi,
Market gapped up due to better than expected Nonfarm payroll numbers. Market was undecided for the morning session... I only entered the market when price broke the high of the morning session at 11:00am. I entered 1 contract at 2148 and another 2 more contracts at 2160.... One caution is stochastics is not applicable in such environment.. notice how the moving averages diverges? this is a strong trend environment... Notice how there is negative divergence in the Short-term MACD? This is irrelevant as the price action is strong.. I exited only at the end at 2170.. with profits of $840.
Fundamentals:
Employment rose in September, and the unemployment rate was essentially unchanged at 4.7 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Nonfarm payroll employment rose by 110,000 following increases of 93,000 in July and 89,000 in August (as revised). In September, health care, food services, and professional and technical services continued to add jobs, while employment trended down in manufacturing and construction. Average hourly earnings rose by 7 cents, or 0.4 percent. Unemployment (Household Survey Data) The number of unemployed persons (7.2 million) and the unemployment rate (4.7 percent) were essentially unchanged in September.
A year earlier, the number of unemployed persons was 6.9 million and the jobless rate was 4.6 percent. Over the month, the unemployment rates for adult men (4.2 percent), adult women (4.0 percent), teenagers (16.0 percent), whites (4.2 percent), blacks (8.1 percent), and Hispanics (5.7 percent) showed little or no change. The unemployment rate for Asians was 3.2 percent, not seasonally adjusted. Total Employment and the Labor Force (Household Survey Data) Both total employment (146.3 million) and the civilian labor force (153.5 million) rose in September.
Nearly half of the over-the-month increase in the labor force occurred among teenagers; this offset a labor force decline among that group in August. The employment-population ratio (62.9 percent) and the labor force participation rate (66.0 percent) were little changed over the month. Persons Not in the Labor Force (Household Survey Data) Nearly 1.3 million persons (not seasonally adjusted) were marginally at- tached to the labor force in September, about the same as a year earlier. These individuals wanted and were available to work and had looked for a job sometime during the prior 12 months.
They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 276,000 discouraged workers in September, little different from a year earlier. Discouraged workers were not currently looking for work specifically because they believed no jobs were available for them. The nearly 1.0 million remaining persons marginally attached to the labor force in September had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance and family responsibilities.