SPY Nearing Support as is GBP/USD and EUR/USD

Good Morning,
I can't stress this enough. The Jobs number is HUGE! Aside from the Fed, it sends equity markets into trends for days and days and days IF the number misses expectations by a large amount.
We expected 70k and we got zero. That is a VERY bearish number. If it weren't for the "Fed in the background", we would be down another 500 points or more over the next few days.
BUT, we do have the "Fed in the background" and we are hanging in there. Check out this support line:

Past performance is not indicative of future results
If jobs data gets worse (see Thursday's unemployment claims for our next look at jobs data), I think that we are going to new lows. I do not think 110 will hold.
Moving to forex, we have a short term chart of the GBP/USD with an early BUFFALO BOUNCE that worked and then one that didn't. I stayed out of things today as overnight news in the CHF and the fact that the dollar stayed on its highs all day against the GBP and the EUR did not bode well for fading its strength. The three charts with the intra-day first followed by the inter-day. The inter-day may be giving some of the longer term forex traders a look at shorting the dollar at these levels as support may be found??

Past performance is not indicative of future results

Past performance is not indicative of future results

Past performance is not indicative of future results
Overall, equities are getting "cheap" BUT can they get CHEAPER? If they can, selling puts may be fun, but location, location and timing, timing. AND if the USD/Equity relationship holds true, could the support levels in the GBP and the EUR be sliced through?
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Happy Trading and Be Environmentally Cool
Coach Brian
Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.