Friday, July 6, 2012

Bad jobs number...S&P heading lower


Not a very friendly employment number. The S&P futures reacted strongly to that disappointment and today could turn into a trend down day, especially with the futures back below the 100day moving average of 1357. Watch that level as an inflection point.

Also, dont forget the EURO...its on the slippery slope to 1.20. As a reference, the last time it was there was June 2010 when the S&P was trading near 1,000...Food for thought!

Enjoy your weekend.

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