March showed an official net gain of 120,000, vs expected 205,000. The underlying jobless rate fell from 8.3 to 8.2% - although once again, that appears largely due to people simply giving up/exiting the 'active' labour force.
How did futures react? The following chart I've highlighted roughly where futures suggests we'll be Monday open - all else being unchanged.
SP'60min
So, the bear flag played out (rather than it being a floor), and bulls look set to get whacked at the Monday open. All those Long the market (myself included), will need to don a heavy grade Flak jacket. Right now, futures wheel suggest the low 1380s.
A move into the 1370s would get me concerned, and if IWM breaks 80.00, then bears will be in control..for the first time since last October.
More across the weekend.