With nothing better to do I decided to collect some data on www.BLS.gov on every January employment number for the past nine years. I compared the data with the three major indexes intraday closings and how they fared after the job numbers were announced in each year respectively. The chart is below.
To me the data seems pointless in predicting what will happen tomorrow in the overall markets. I only consider jobs #s affecting the market but there had to be other news factored in as to why the markets responded the way they did. For instance in '09 the job numbers looked awful but the indexes gains in the day session was by far the biggest in any day after the January employment #s came in. In the other direction '01 and '03 had terrific numbers but market got hammered. Maybe future expectations or market sentiments or technicals in the market had to do with gains and losses. So in conclusion I do not know if tomorrow's numbers will effect the markets or if it does effect, how much. Maybe you do?
Update: I took indexes numbers from Google Finance and think they maybe off. (For instance I just noticed in the chart for 2001 the Nasdaq dropped over 122? Maybe its the real deal but again I only took data from what was available to me.)
QQQs and DJIA Correlation Turns Strongly Negative
4 months ago
No comments:
Post a Comment