I am not surprised by the jobs report, I am actually curious to see if we will move above the 142.71 level.. As long as we can stay above the 142.26 level today this rally have legs to re-test the highs. Anything goes wrong around 142.71, and we slide back down.
Overall i am still bullish, but the short term slide is much well needed, but when we want something really bad in the market that is when we don’t get it.
$SPY 1st support is 142.02, 2nd support 141.05, and 3rd is 140.25 (A few cents above the 3rd Fibonacci Retracement Level..
$SPY 1st target is 142.71, 2nd is 143.55 3rd is 144.10, and 4th one just for fun is 144.60.
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