Volitility Locking Bias

There were quite a few reports for investors to sift through this morning.  Initial Jobless Claims were higher than expected at 368,000, but the Chicago PMI, known as the Business Barometer, was notably higher than expected.  Stocks are slightly lower at the moment, but that could just be break from what is turning out to be the best January in 20 years.  mortgage bonds have been stuck in a range for the last 4 days, but the range is below the 200 DMA.  There will be no significant move lower in interest rates if bonds cannot get above this resistance.  The Labor Department delivers the monthly Jobs Report tomorrow morning.  The announcement has the potential to propel stocks to new high’s, or give them a reason to sell off after a record January, depending on the results.  Either way, the volatility will be present, so any short term transactions should consider locking.

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