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The typical yo-yos were trotted out on financial television to tell people Everything Was Great and that the Economy Was Sound and that they should Buy Stocks Now. What a bunch of self-serving imbeciles.

Just one glance at the daily SPY chart tells you what you need to know; just one surprise could yank the carpet from under this market and send it collapsing into oblivion.

slopechart SPY

The monthly jobs report comes out in the morning, and it’s anyone guess what the effect will be. As I type this on Thursday evening, however, it looks like the people of Earth aren’t paying much attention to the permabull Tom Lees of the world.

ES minute chart