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Friday coincides with Good Friday and the weekend market being closed.
The chart is consolidating sideways, moving flat with extremely small fluctuations.
Market attention is focused on the U.S. stock market opening on Monday next week.
Last night, the non-farm payroll and unemployment rate data were released.
The non-farm payroll data is strong overall and tends to be bearish.
It directly shattered the market’s expectation of rate cuts.
A rate cut in June is basically out of the question.
The fact that high interest rates will stay elevated for longer has become established.
However, this bearish pressure has not yet been fully absorbed by the market.
It is only being temporarily held back because the market is closed.
When the U.S. stock market opens on Monday next week, it will most likely first slide further and play catch-up.
Risk assets will also face pressure at the same time.
Personally, I think the bearish factors will be concentrated and released on Monday.
So you can take the opportunity to add to short positions.
I’m planning to bet on the bearish “news-to-reality” move after Monday’s opening and the ensuing selloff as the bad news is realized.