Although I have a counter trend buy signal, I do not think the longer term overall trend has changed to up. This King's Cross buy signal is not my preferred trade because the 50-period moving average is pointing down.
On Friday, March 6 the U.S. jobs report hit the wires.
Equities were trading higher in premarket, and the previous session we had seen strong sell-off followed by an equally strong high-volume rally. No one was expecting the massive sell-off that was about to hit the stock market when the good jobs numbers were posted.