Are You Ready for the Unemployment Report?

THE WEEK

Take a look at this week’s SPX chart and you can see why I sometimes go crazy.  I really thought this week would be a little quieter without any major economic announcements.  The FOMC still rocked traders’’ confidence and caused a sell off.  The minutes were merely a re-hash of what we already knew and I did not think they would be that impactful.  I think the debate over the debt ceiling is also causing havoc.  And there is another looming disrupter – the debate over student loan forgiveness.  

The good news is after being down most of the week, Friday’s trading brought the price/action right back to the prior week’s high.  Also note that both the lows and highs are getting higher on each cycle. 

LOOKING AHEAD

Monday is a Market holiday – Memorial Day.  My thanks to all the men and women who serve to keep us save and protect the union.

The Market disrupter happens on Friday, the 2^nd , when May’s unemployment figures are released.   The ideal ratio to 1:1 – Job openings vs. Job seekers.  This past year that ratio has been well over 2:1 which further exacerbates inflation.  There are not enough people in the workforce to meet the demand for goods and services.  This forces wages up and companies have to increase their prices on their products accordingly.

HOW AM I DOING?

Another decent week of gains.  I struggled a bit because of the violent price/action swings.  But that is one of the reasons trading is so much fun and never boring.  In five weeks of trading my DATA account I am up 49.73%.

This week’s DEEP DIVE

Trading an Account Under $10,000

I had a request for one of my subscribers with a smaller balance

He had heard when I first started I had a little less than $7,500 starting capital 

“How did you do it and how long did it take?”