Jobs are up, but also unemployment. Anyone who claims to know what this means is just shuckin’ and jivin’.
I cannot suggest bottom-fishing the E-mini S&Ps at p2=5710.75, a Hidden Pivot support I drum-rolled here earlier, because the futures have spent two days diddling it. When it gives way, which it will, expect the futures to fall to the 5555.00 target we've been using. We'll know better then whether we've just seen the initial phase of a bear market. So far, given the ten weeks of pooch-screwing at p=5866.75, price action favors bulls. This squares with the prediction by some of the better EWT forecasters of a rally to new record highs.