Job revisions and tomorrow expectations

21 ส.ค.

Lots of short seller were hoping for a much more negative reaction to jobs revisions. While the revision is large, it ultimately doesn't derail expectations much. More likely, smart money will use the opportunity to squeeze short sellers into a pop upwards tomorrow and break through the current resistance level on indices. Keep an eye on overnight behavior, it'll give us a strong indication on where the indices will be headed.

Ideally, once indices breaks thru resistance, it can take a small breather again and consolidate sideways, before moving upward more.