So we have the nonfarm payroll report this morning and the number came in a little better than expected - mind you the economy still shed 36k jobs and the rate is still 9.7% Unemployment but it was still better than expected. So of course the bulls are lathered up buying futures (as they were all night...hmmmm???) pushing them up 3/4 of 1% premarket.
So we have rallied from 1040 to 1129 now in 2 weeks - do the bulls have more room to run? Sure is hard to fade em.....Bonds are getting roughed up, Oil is rallying ($82 bucks a barrel) those are your negatives. The positives are momentum, momentum, momentum.
Dunno what to think here - we are massively overbought but that really doesnt matter these days...Good luck
JB
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