Case for "baby rally" to continue strengthened this week. But October jobs report key (Friday)

We publish on a 3-day a week schedule:

– SKIP MONDAY <-- No Macro Minute Video Sunday or First Word Monday due to Travel
– SKIP TUESDAY

– Wednesday
– SKIP THURSDAY
– Friday

The video in this report is only accessible to members
The video in this report is only accessible to members

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We discuss: how there are multiple reasons to believe this baby rally is gaining strength.  Foremost is a Fed which is beginning to be forward looking.  But there are structural reasons to believe a tradable low is in place.

Please click below to view our Macro Minute (Duration: 6:20).

The video in this report is only accessible to members
The video in this report is only accessible to members

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Equities have managed to gain for 4 consecutive days with cumulative gains week to date of ~5%. As we noted earlier this week, of the 9 key macro events (plus $AAPL), only a few needed to go right for stocks to reverse the many key macro reports. And indeed, incoming macro developments have been favorable in a way that, in our view, sets the stage for stocks to gain in the near-term. So far, it is a "baby rally" but this could turn into a larger rally.

The key remaining macro data point is the October employment report released Friday at 8:30am ET. - The Street is looking for +180k and avg hourly ear...

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