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Well…What’s it gonna be?

Posted by Dino on April 1, 2011

NFP came out this morning and we’ve added jobs (+216k) so will we continue higher or will they sell into this strength?  The numbers came in slightly ahead of expectations but still inline.

So far this morning the S&P is up about 0.6 % and the Dow is up about 0.5%.  Seems like a bit of a weak open for an improving job situation.  I thinking we may have a gap and crap scenario here where we pop in the first 30 minutes and pull back a bit.  Failure to follow through this morning may lead to some profit taking over the next few days until buyers step in and we find support but ultimately I think we’ll run up to 135o on the S&P’s barring any other unforeseen circumstances.

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