Great job numbers 300k+ and subdued wage growth at 2.6% prompted the stock market to bounce nearly 2% and significantly up from recent lows at 2650.
Target upside is 2900 a rise of 4% in the next few weeks.
However European markets are still weak with the DAX and FTSE on potential bear market watch. Both markets have failed to move above 50ema for more than 5 weeks and the DAX could enter a bear cross at 12700 in the next week.
In Asia, only China 30996 is showing any strength with Japan 21467 and India 33307 in correction territory at 21600 and 33000 respectively.
Stock allocation 50%
Target upside is 2900 a rise of 4% in the next few weeks.
However European markets are still weak with the DAX and FTSE on potential bear market watch. Both markets have failed to move above 50ema for more than 5 weeks and the DAX could enter a bear cross at 12700 in the next week.
In Asia, only China 30996 is showing any strength with Japan 21467 and India 33307 in correction territory at 21600 and 33000 respectively.
Stock allocation 50%
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