Obviously the employment data was disappointing this morning, but all is not lost. As long as the SP500 can find support at the 1065 to 1070 area, and the Dow at 10000+/-, the rally that began on 5/25 can continue. Clearly if we take out the 5/25 lows the near term bullish case will be in jeapordy.
Another point that this mornings reaction to the data makes clear is that one should not go all in on new signals. Entering in steps is the way to go.
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