After a few days of weakness (horrors!), it’s no surprise at all to be witnessing some green this morning, with ES and NQ using the relatively strong jobs report as their latest excuse to rally. This is totally expected, and as I told my Plus subscribers yesterday afternoon, I expect the counter-attack in crude oil to be even stronger. It’ll be a magnificent trap.
As for today, we’ll see if the strength builds on itself, as it sometimes jobs on these jobs report days, or if it starts to wither (which would really start to freak the public out). My principal message is that broken trendlines do matter.
