Disappointing job data to weigh on the market

U.S non-farm employment data come out at 194k vs. 490k expectation. The major missed in the job data however accompanied by a lower than expected unemployment rate. The unemployment rate come out at 4.8% vs. 5.1% expectation. It seems the market making a pullback after the data release as DJIA futures turn negative 38 points.

Traders and investors will continue to observe the development as the situation might reverse after the market open.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index made bullish close yesterday and closed between the daily SMA 50 & 100. We might see a bearish opening as index futures turned negative after the job data miss. Traders will continue to observe the index movement between the horizontal line and the daily SMA 50 for now. If the index starts moving lower again then it might target the daily SMA 200.

Morgan Stanley Com (MS)

MS share prices are trading inside the bullish channel shown on the daily chart. There is no breakout from the channel yet and it is currently trading near the bottom of channel. If the share prices could bounce from the bottom of the channel then the bullish trend is set to continue.