sp'weekly7
Summary
*it is notable that despite the huge Monday gains, the weekly 'rainbow' candle - which was green at the Monday close, still settled blue (threshold for red was close.. @ sp'2065).
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Market is expecting net job gains of 247k, with a static headline jobless rate of 5.5%. Despite the recently weak econ' data, I'd not be surprised at a number above expectations.
Of course, any number much above 250k will concern the mainstream that rates will be raised at the June FOMC. That would likely see futures take a dive lower, but even then, it is a long time for the bears to wait until the Monday open.
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A tiresome day... I'll leave it at that.
Goodnight from London
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*there will be a post early Friday, with an update on the futures market reaction to the latest jobs data.