"This is classically what's seen with non-farm payroll. They take the market in a direction which many times is like a fake-out. Just like the rate announcements for FOMC, they are two-stage deliveries. Initially, we see the market drop at non-farm payroll, so that's the first stage, and then the second stage is the reversal of that move.
We want to try to have a good read on it using the daily charts, and it makes things a lot better when it is in concert with what we have expected or expect with the weekly chart. Ahead of the new week we don't know where we're going to open, but we might have a big gap opening, one extreme or the other, above or below on all the markets. We'll have a very volatile week, and we’d like to see initially retrace a little bit further lower on the dollar to kind of sell the idea that it topped, to retail traders and everybody else going long still at these elevated levels on ES, NASDAQ, Forex pairs, and gold. And then they send it lower aggressively next week. By next Friday's close, we would like to see lower levels on all the Forex pairs and on ES and NASDAQ and gold and higher prices on the dollar index.
