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 Indicator enters downward trend
The Aroon Indicator for SPY entered a downward trend on July 08, 2026. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 140 similar instances where the Aroon Indicator formed such a pattern. In of the 140 cases the stock moved lower. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for SPY moved out of overbought territory on June 03, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 44 similar instances where the indicator moved out of overbought territory. In of the 44 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
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 .
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on July 02, 2026. You may want to consider a long position or call options on SPY as a result. In of 72 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 July 06, 2026. Looking at past instances where SPY's MACD turned positive, the stock continued to rise in of 53 cases over the following month. The odds of a continued upward trend are .
SPY moved above its 50-day moving average on June 29, 2026 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SPY advanced for three days, in of 366 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.
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