Totally agree. BETWEEN a ROCK and A HARD PLACE We'll probably be in sideways market market with risk to the downside until Friday's Jobs report whenever trader's expect a blowout, the reverse occurs in the market especially combined with too much overhead resistance (technical outlook) Expectations are set so high, they are not likely to be met. If they are NOT met the obvious disappointement will take its toll in the market prices. If the number did come in very high say above 500 thou, that could be met by an overnight rate hike. Even before the numbers we have Oil prices, Iraq and the second attack in less than a month on Saudia Arabia, the world's top exporter of crude. I applaud those that can see through all this and provide any opinion of market movement that takes only a few squiggles on a chart as their only mantra. I certainly more than that to determine what I buy and what I sell at least for more than 3 to 5 minutes.
Okay so now that the worst (part I) is over and everyone can breath a sigh of relief so the market is likely to rally as the first lead ball finally dropped (its hovering overhead all this time on a shoestring) and heck everyone wants a strong economy anyhow. THIS IS NOT ENOUGH: How about if the number is considerably below the estimates the Fed will once again do nothing and we can rally. If you can see all this impending volatility in your charts, great, most can't unless they are crystal balls. I would still expect rallies to be sold until the end of the week (upside will be shorted) This next week can set the stage for the rest of June but then the sectors themselves will have what to say fundamentally. I would be looking to sell rallies (whoever has the guts to actually call a trend this early based on chart patterns is deluded) until the jobs report. There should be some good short candidates out there especially in the nets, semiconductors and companties like INTC about to
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