Outlook for Dec 2

Today the S&P 500 couldn’t break up the resistance channel and closed in red. However the bears couldn’t take advantage of the pull back. Tomorrow the Non-Farm Payrolls report will come out. I believe it will decide how the market moves. One thing to note that last week unemployment claims rose to 402,000 from 396,000 of the week before. I doubt if the NFP would meet analyst¬†estimate which is ~122,000. Last month the number was ~80,000.

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