Here comes the clowns, freaks and carney barkers setting up the BLS tent; the circus is officially back in town. The ringmaster will read the jobs report at 8:30 AM EST. Average hourly earnings (wages) are key and will greatly impact trading.
Note Added Friday Evening 1/9/15: The Monthly Jobs Report is 252K jobs with the unemployment rate at 5.6% the lowest rate since June 2008. Last month’s 321K jobs are revised 32K higher to 353K and the month before that is revised 18K higher. So any worry over a decrease of the robust 321K jobs number was unwarranted.
In the stock market, note that the SPX ends at 2045 exactly at the moving average confluence at 2043-2047 described above; it acted as a magnet. The NYA is back under the 40-week MA at 10790 signaling a cyclical bear market ahead for weeks and months.