The small non-farm report has just been released - 42,000 people, significantly higher than the market expectation of 25,000.

How should we interpret this data? By traditional logic, better-than-expected employment means that there is less room for interest rate cuts. But from another perspective, it at least indicates that the economy has not slipped toward the brink of recession. In simple terms, both positive and negative interpretations can be made; the key depends on how the funds are maneuvered.

My personal judgment? The position of 98 during the early session has actually been reached. The current pullback looks quite scary, but technically it is still healthy – a retracement to the 0.5 level in the 74k-126k range is completely within expectations. Don't panic, this is the normal breathing rhythm of the market.