“Employers added 165,000 workers to nonfarm payrolls in April, the Bureau of Labor Statistics said on Friday, and unemployment fell to 7.5 percent from 7.6 percent, the lowest since December 2008. Economists surveyed by Bloomberg had expected nonfarm payrolls to rise by 140,000 jobs and unemployment to hold steady at 7.6 percent.”
Friday, the S&P 500 was up 1% to 1,614 (rounded), a new high for the S&P 500.
That STAT is now 6.9% so the market is topping when measured by several measures of market action. Of course, this time is probably different…
The NTSM system sold at 1575 on 16 April. (This is just another reminder that I should follow the NTSM analysis and not act emotionally – I am under-performing my own system by about 2%!)