US added 531,000 jobs in October
The U.S. economy added more than half a million new jobs in October, the Labor Department data revealed. The figure came in higher than expected by analysts.
The Bureau for Labor Statistics data showed that 531,000 jobs were added in October, compared to the Street forecast of 450,000. The increase in hiring is almost double the job gains in September.
The private sector added 604,000 new jobs last month. Government was the only sector in which employment fell.
The unemployment rate fell to 4.6% , from 4.8%.
However, labor force participation remains tepid. The number of people who joined the labor force only rose by 104,000, leading to a participation rate of just 61.6%. The labor-force participation rate has not shown any significant increase over the past year and remains near the lowest level since the early 1970s.
Labor shortage is a potential reason behind the upward push to wages, as companies try to boost pay in order to attract enough workers. Hourly wages rose again in October and they have increased +4.9% in the last 12 months, one of the steepest increases in decades.
SPY's RSI Oscillator ascends from oversold territory
The RSI Oscillator for SPY moved out of oversold territory on April 09, 2025. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 21 similar instances when the indicator left oversold territory. In of the 21 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on April 25, 2025. You may want to consider a long position or call options on SPY as a result. In of 69 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for SPY just turned positive on April 22, 2025. Looking at past instances where SPY's MACD turned positive, the stock continued to rise in of 52 cases over the following month. The odds of a continued upward trend are .
SPY moved above its 50-day moving average on May 01, 2025 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for SPY crossed bullishly above the 50-day moving average on May 07, 2025. This indicates that the trend has shifted higher and could be considered a buy signal. In of 14 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SPY advanced for three days, in of 367 cases, the price rose further within the following month. The odds of a continued upward trend are .
SPY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 436 cases where SPY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 9 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The 50-day moving average for SPY moved below the 200-day moving average on April 16, 2025. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SPY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
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