sp'60min
Summary
Considering the huge miss in the jobs data, todays market reaction bodes well for the bulls. The intraday price action is just the same nonsense we've seen for the last few years.
No matter how rough the news is..the bears are simply powerless to push significantly lower.
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VIX is melting lower into the weekend, -3.6% in the 12.40s. I suppose a weekly close in the 11s is even possible if they bring out the hammer in the closing few minutes - as if often the case.
UAL is pushing higher...but has channel resistance in the $46s
The $48s (primary target) don't look viable until early Feb..if not March - since the market should cool down into Feb..before the final wave higher into late spring.