As you all know by now, the government likes to sell the dollar to pump up the market. And it's no mistake that the dollar has been pounded hard lately. However, there is huge support coming in just a hair under todays' close. Look at that lower rising trend line (in blue) that starts from back in December of last year.
If it breaks, then the market is off to the moon, but if it holds... and bounces off of it, then the market will fall. There is still a little bit of downside left, before it actually touches it... but not much. I'd give it one to two more days at most. That means that Monday could still be an up day, if the job's numbers' are viewed as positive tomorrow?
Of course I'd expect the numbers to already be "baked into the cake"... so to speak. Meaning that regardless of what they actually are, the market has already picked the next move. If todays' new high wasn't yet enough to squeeze out the last bear, then a quick pop on Monday could still happen... before the much anticipated sell off occurs.
Not that the sell off is guaranteed, but it's the likely next move... before any summer rally to 1200 plus occurs. So now we wait for the jobs numbers tomorrow, and then to see how the market views them next Monday. Regardless of the number's, the media will have 3 day's to turn them into something positive. I think the best we can hope for... is a flat close on Monday. That would be a huge relief for the bears, as every Monday since I don't know when... since I was born? ... has been bullish.
I'd had about enough of the Bullish BS... how about you?