Some long time investors hold the belief that if the stock market opens with a poor start on Monday that the remainder of the week will typically struggle. Monday’s big slide on Wall Street was met by small gains on Tuesday. However, Wednesday has started with declines again globally. The ADP Non-Farm Employment Change report is due in a few minutes time. With the broad markets showing an extreme amount of nervousness this week’s jobless parade which starts soon will be vital and have an impact on sentiment. And that is the point, the markets are largely moving on psychology. It is not all about the Fed, FX, hard data, quantified PE ratios, quarterly earnings, investors just like consumers have spending habits too. They want to feel confident. The jobless data which will start today and climax on Friday with the official Non-Farm Employment Change numbers is about to start taking center stage. Be aware.
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