The market is walking a tightrope between whether central banks such as the Federal Reserve and European Central Bank are moving toward tighter money policies, ie, less QE. Today's jobs report suggests some weakness which reduces the 64% odds of a rate hike this December. Yet, there remains much uncertainty as reflected by the futures odds as the jobs report was not particularly weak, and markets dislike uncertainty.
ACIA and TWLO have been two of the top leaders on a technical and fundamental basis in recent months. Both are near supportive moving averages, the 50-day and 20-day, respectively. If neither can bounce here, that is a troublesome sign.
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