What happened today in the market?
What happened today in the market?
At the beginning of the week, we knew that Friday would be one of the most important days of the month, as the unemployment rate report would be published, among other indicators. The result was favorable; the current rate stands at 4.1%, better than the forecast of 4.2% and the previous figure also at 4.2%. Additionally, news regarding the possibility of an agreement on the strikes at the most important ports in the U.S. contributed to an optimistic atmosphere.
Before the market opened, the indices surged upward. However, in the pre-market, we observed a particular behavior in the main ETFs, such as
SPY and QQQ. In the case of 
TQQQ, there was a price interruption of approximately $6 in QQQ. This type of movement can leave many investors trapped due to the previous session's closures since they had open positions.
Despite the positive report and the overall optimistic sentiment, at the market's opening, the price remained sideways for about 25 minutes, during which many investors decided to take profits. This resulted in a pullback that wiped out the pre-market gains.
However, after that drop, the chart showed notable respect for the 61.8% Fibonacci retracement level, considered one of the most relevant levels. By respecting this level, the market experienced a new bullish impulse, better assimilating the profit-taking.
At the beginning of the week, we knew that Friday would be one of the most important days of the month, as the unemployment rate report would be published, among other indicators. The result was favorable; the current rate stands at 4.1%, better than the forecast of 4.2% and the previous figure also at 4.2%. Additionally, news regarding the possibility of an agreement on the strikes at the most important ports in the U.S. contributed to an optimistic atmosphere.
Before the market opened, the indices surged upward. However, in the pre-market, we observed a particular behavior in the main ETFs, such as
SPY and QQQ. In the case of TQQQ, there was a price interruption of approximately $6 in QQQ. This type of movement can leave many investors trapped due to the previous session's closures since they had open positions.Despite the positive report and the overall optimistic sentiment, at the market's opening, the price remained sideways for about 25 minutes, during which many investors decided to take profits. This resulted in a pullback that wiped out the pre-market gains.
However, after that drop, the chart showed notable respect for the 61.8% Fibonacci retracement level, considered one of the most relevant levels. By respecting this level, the market experienced a new bullish impulse, better assimilating the profit-taking.
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