Further to last months update on the simple market timing indicator based on the 10 month moving average. The Us employment data came in a little weaker than expected, against the recent trend, but still just below its moving average, which is good.
This means that markets seem to have moved from discounting a possible rate rise this month to now expect one possibly in December. In this case bad news is therefore good news and should further help to support the markets in Q4. I wouldn't get too bullish in the short term though as there is still the possibility of an autumn shake out, as it often the case and given the rise we have seen post BREXIT may be running out of steam?