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06Nov2015 Market Close: Markets Closed Up, But Teetering On Supports That Could Spell ' WATERFALL' If Broken, Investors Very Concerned

Written by Gary

US averages moved higher from the morning lows to close mostly in the green on low volume. The SP500 closed down and flat while oil, gold, and Dr. Copper all closed precipitously on their supports. The US dollar is ready to climb higher to levels not seen since March, 2015. This is a time many investors are cautiously surveying the market landscape and deciding, wisely, to sit on their hands and let the 'Sheeples' do the gambling.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Wall St. closes flat after strong jobs report

(Reuters) - The S&P 500 index ended little changed on Friday, with a rise in financials countered by a big slide in utilities and other sectors, as Wall Street took a strong U.S. jobs report released earlier in the day as a sign the Federal Reserve will soon raise interest rates.

Exclusive: Verizon weighing $10 billion sale of enterprise assets - sources

NEW YORK (Reuters) - Verizon Communications Inc is exploring a sale of its enterprise assets which could be worth as much as $10 billion, according to people familiar with the matter, as the largest U.S. wireless carrier seeks to focus on its core business.

UAW, Ford reach tentative contract deal, ratification vote next

DETROIT (Reuters) - Ford Motor Co and the United Auto Workers on Friday reached a tentative agreement for a new four-year labor contract, the union and company said.

Wall St. banks zone in on December for Fed liftoff: Reuters poll

(Reuters) - Wall Street's top banks expect the Federal Reserve to raise interest rates in December, and most brokerages said their conviction around such a move had increased in the last month, according to a Reuters poll conducted on Friday.

U.S. regulators reject push for 'Do Not Track' Internet rules

WASHINGTON (Reuters) - U.S. regulators rejected an effort on Friday to force Google, Facebook and other popular web sites to honor "Do Not Track" requests from users, in a setback for digital privacy advocates.

S&P Ends Red After 2015's Best Jobs Data Sparks Bond & Bullion Breakdown

The best jobs print in 2015 sparked a surge in the dollar and purge on everything else... quickly followed by this from some...

...and this from the mainstream media and their sponsoring talking heads

* * *

Having dipped and ripped on a huge miss in October, after today's beat, the market couldn't quite pull it off...

WTI Crude was the worst-performer post-Payrolls as stocks desperately ramped to get back to unchanged...

On the day, Small Caps and Trannies were on fire (squeeze) as S&P was unablew to get there...

Thanks to yet another big short squeeze...

Is This The Green Light To Hike Rates?

Today's euphoric unemployment print of 5.0% was based on a total employment number of 149.120 million, with 7.908 million workers unemployment (and another 94.5 million out of the labor force).

The number was so good, the market is now confident the Fed will hike rates in December.

So how does US employment growth look like in context and is this really the catalyst for the Fed to hike rates signalling a jump of confidence in the economy?

We will let readers decide if the 1.3% increase in total employment, less than half what it was last October, is the answer.

Source: BLS, h/t @Gloeschi

World's Largest Steelmaker Reports Huge Loss, Suspends Dividend, Blames China

It’s no secret that Beijing has an excess capacity problem.

Indeed, the idea that a yearslong industrial buildup intended to support i) the expansion of the smokestack economy, ii) a real estate boom, and iii) robust worldwide demand ultimately served to create a supply glut in China is one of the key narratives when it comes to analyzing the global macro picture.

That, combined with ZIRP’s uncanny ability to keep uneconomic producers in business, has served to drive down commodity prices the world over, imperiling many an emerging market and driving a bevy of drillers, diggers, and pumpers to the brink of insolvency.

As we noted late last month, if you want to get a read on just how acute the situation truly is, look no further than China’s "ghost cities"...

Stock Investors Position for Rate Increase After Strong Jobs Report

Broad stock-market indexes were little changed Friday, but underlying sectors swung sharply as investors moved money out of income-yielding companies and into shares of banks, whose profits are expected to increase as rates rise.

Square's IPO Terms Put Value Below Latest Funding Round

Payments startup Square Inc. could soon be a case study on what happens to tech startups that can’t support lofty private-market valuations in public offerings.

Currencies: Euro ends week near 6-month low after U.S. jobs report

The euro finished the week Friday just above a six month low reached after a blockbuster October jobs report.

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To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

gary@econintersect.com

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