Major averages finished roughly flat yesterday on mixed volume after spending much of the day in the red. Both the NASDAQ Composite and S&P 500 got support at their 20-dema lines.
February nonfarm payrolls came in at 235,000 vs est 188,000. The prior month's reading was revised to 238,000 from 227,000. Nonfarm private payrolls added 227,000 vs. est 185,000. The unemployment rate decreased to 4.7% vs. est 4.7%.
Average hourly earnings increased 0.2% vs. est +0.2%), while the previous month's reading was revised to 0.2% from +0.1%. The average workweek was reported at 34.4 matching estimates. The previous month's reading was left unrevised at 34.4.
Futures are up on the strong jobs report.
Focus List Update:
CC traded close to its 20-dema on low volume once again. Volume dry-up action is bullish.
MOMO gapped lower at yesterday's open. After Wednesday's near +14% gain, its price is clearly getting ahead of itself, so you either take profits near the close or at the gap lower the next day when it opened at 32.93.
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