Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Waiting for Jobs Report

Traders are waiting for the Jobs Report coming Friday.

For now the intraday technical charts are still premature but starting to show some promise.  As expected, the highest probability pattern to develop once a prolonged waiting time has started will be a Triangle.


Just in case this triangle materialized; then the rally after the triangle should be the last rally.  A rally usually occurs for the 4-th or the iv-th wave and I was just waiting for a confirmation that the 3-rd wave has already completed and a potential 4th is in progress as illustrated below:

Happy trend trading.