U.S. employers added 304,000 (net) jobs in January – the 100th straight month of employment gain. It is also the biggest monthly job gain since February 2018 (based on Bureau of Labor Statistics data). The average net addition to workforce for the last three months is now 241,000 jobs — which is an acceleration in job growth.
The leisure and hospitality sector, which hired 74,000 employees, led the job gains for the month. Construction and health care added 52,000 and 42,000 jobs respectively.
In January, average hourly earnings for all employees on private nonfarm payrolls increased by 3 cents to $27.56, following a 10-cent gain in December. Over the year, the earnings increased by 85 cents, or 3.2%
Unemployment rate, however, ticked up a bit to 4% in January, possibly due to the month-long government shutdown. But the shutdown did not seem to significantly affect job creation and wages.
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where SPY declined for three days, in of 246 cases, the price declined further within the following month. The odds of a continued downward trend are .
The 10-day RSI Indicator for SPY moved out of overbought territory on March 22, 2024. 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 47 similar instances where the indicator moved out of overbought territory. In of the 47 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 6 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
SPY broke above its upper Bollinger Band on March 20, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Momentum Indicator moved above the 0 level on March 18, 2024. You may want to consider a long position or call options on SPY as a result. In of 64 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 March 27, 2024. Looking at past instances where SPY's MACD turned positive, the stock continued to rise in of 50 cases 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 360 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 446 cases where SPY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Category LargeBlend