sp'60min
Summary
So....lousy econ-data, and market is rallying.
After all, a secondary QE-taper now looks completely off the table until the FOMC of March'19.
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Sears (SHLD) in real trouble...
Support broken, looks headed for the mid 20s...that is a good 30% further lower!
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Notable strength: F, UAL, BTU. Of those...UAL is the strongest, after the initial Wednesday breakout.
10.09am.. indexes a touch lower, but really, this is still the same micro-chop that we've been seeing since Tuesday.
Despite the lousy jobs data, bears were unable to snap the market significantly lower.
Again, as I keep saying...the bears have next to zero downside power.
Best bearish case..a break <1830... and then 1820/18..even 1810/00..but we sure aren't falling <1800, as based on the continuing price action.