The market bounced off truly abysmal employment figures today. I suspect there’s one more push up to 1375-1390 before P commences in earnest, probably around the middle of the month if the every 90 day pattern repeats (see 5/2 post.)
Showing up again to provide the bounce? The trendline deriving from the Oct ’07 highs — which also grazes the Feb 18 top, the 4/6 top and the 4/20 – 4/25 shelf. Today, it sits at about 1335.