US stocks push higher now as markets digest BLS data - Nasdaq 100 lifts towards technical level

The US stock markets are now pushing higher following the confirmation of that huge downward revision to US payrolls of more than 800k. Look, there are two ways you can look at this. On the one hand it is positive in terms of delivering a likely rate cut from the Fed next month, but on the other hand it could be deemed as bad news for the economy further down the road and as such is that positive for stocks? Well, right now it seems like the markets are now accentuating the first one not the second. The Nasdaq 100 is now approaching 19,900 and the reader is reminded of that final Fibonacci corrective level. That is in place at 19,924. The index is just now trading at 19,890