Apparently, Good news was bad news for Market. Good job numbers means, Fed can raise 75 basis point in September meeting - if required. Market ended with daily chart displaying, "Bearish Engulfing" with volume also more than yesterday. Tuesday open - even if we open green - will remain weak. Market closed right at the trend-line from where it can bounce.
There is also another fear in the market as western countries trying to impose price structure for Russia to sell their oil. Russia may retaliate - by cutting the oil supply - increasing the price of oil - a big threat to inflation #.
However, things will largely depend upon Inflation #'s from August and if we continue to slide further and show up numbers which were right around May #'s - that will be big positive for market. Any number above 8% - will be bad news for market and we may very well revisit June Lows.
Its a coin toss - about Inflation so I remain "Cautiously, Optimistic".
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