On multiple occasions earlier this year, the months JOLTS jobs data has been used to spark a price rally. With both CDG and CDS in sharply oversold territory, I had hoped that today's JOLTS data would have the same effect. Nope. Not today.
And that's fine with me as I was not able to place any trades ahead of the data anyway. Additionally, I'd like to see prices remain down today so that we get a more accurate picture in this week's CoT report. So, whatever. It is what it is. I still expect a sharp squeeze at some point soon....
