$QQQ $SPY Trades New Session Highs | Midday Market Minute | 05.06.22

Posted: May 6, 2022, 12:36 p.m.

Jobs Friday! There was strong growth with 400k added, with contained wage growth. As of writing, the Nasdaq is 350 points higher than the low of the day. 4062 was the low of the day in the S&P, and traded to a session high to the 38.2% retracement of the Wednesday high. Where do we need to close above today to continue strength?


Crude Oil has been constructive, remaining bullish as long as we are above $107. Is Natural Gas a tailwind for Crude?

Neel Kashkari, of the St. Louis Fed, has a neutral rate of 2%, which he wants to achieve by year end.

Gold and Silver are in a lull, but are basing.

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