Of course, the Jobs number is everything today. It will break at 8:30am ET and then millions of crazy people and machines will be throwing money at prices in a frenzied, multi-pointed tug of war and price will find a new level. Where that is, I contend, nobody knows.
But, we do know that going into the numbers, the market’s breadth is quite strong, so it will take a lot of disappointment to break this camel’s back.
The Zweig should actually begin to weaken now as price climbs higher. That divergence will tell us we are in a strong trend.
The CVI is happy.
The 50 DPI still has a little upside before maxing out.
This indicator staying up will be another big clue:
Our Trends remain in the bull camp meaning “Buy The Dips”