Today’s trading session is starting to look every Black Friday sale,where everything must go. In addition to the normal market concern of the trade ware with China , ADP reported that , for the second month in a row, the estimate of private sectors job being created missed expectations.
Economists had estimated approximately 152,000 jobs would be created, vs the actual 135,000. This underwhelming jobs report added fuel to fears of a economic cool down, causing the Dow to fall over 3% in just over 2 days.
It seems that the market stands on the edge of a knife. I still attest that the market is over valued, but it appears that the market is starting to feel the same. This strong reaction from the market, might indicate a time to change portfolio allocations. We will have to keep a weathered eye on the market this week for any other events that could cause a shift.
Dry Powder 