Bull Trap! Jobs Report Beats, Nasdaq Collapses

By Updated on April 18, 2022

Bull Trap! Jobs Report Beats, Nasdaq Collapses Thumbnail

Friday morning before the markets opened, the U.S. Labor Department released the February jobs report.

It appeared to be loaded with good news. The economy added 379,000 new jobs compared to the 200,000 expected. The unemployment rate fell to 6.2%, the lowest point since last February.

The futures rallied on the news. All three major indexes opened in positive territory, up about 1%.

But after the open, the market has been unable to hold any of its gains. All major indexes are now trading in negative territory.

At writing, the Nasdaq Composite is trading down more than 2.5% on the day and 3.5% off its opening highs. After yesterday’s close, the Nasdaq entered correction territory, which is a decline of more than 10% from recent highs.

The Dow Jones Industrial Average and S&P 500 are both near their session lows, down 0.3% and 0.75% respectively.

Posts contain affiliate links. Timothysykes.com may get compensated for affiliate posts and purchases through links.

Image: Mega Pixel/Shutterstock.com


How much has this post helped you?

Comments (1)
Author imageTimothy Sykes
Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my Trading Challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don’t forget to check out my 30 Day Bootcamp, it will teach you everything you need to know about trading.

Leave a Reply