Market dragged lower by HS and China, both almost –3%, playing up liquidity issue again or just profits take ahead of US jobs report tonight.
Europe and DJ futs sharply lower after 4.15 pm.
Even though renewing year highs, its not really a “saving the best for last/Friday” case....ummmh.... but strong on weekly basis: a positive week with 1200 still in sight. Fbm remains above 1180 and as long as DJ does not do something stupid tonight, 1180-1200 is immediate trading reach in early next week. And if regional bullish, a breakout to 1200-1240 is the next target next week after 1200.
Otherwise, back to 1160-1180 “sleeping” range.
To the downside, below 7SMA is profit-take sell signal; below 1160 is renewed technical sell.
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