On the heals of our first back-to-back down series in nearly a month, such as it was, we are putting in what looks to be another powerful up trend day on the better-than-expected jobs report. While I note a modicum of resistance at SPY R2 (say $101.70), a rising dollar and an inability of 52-week new highs to expand, cumulative tick is nevertheless rocketing higher at the mid-day and up volume has been relentless. As has been the case during the last several days, the Financials (XLF) and Real Estate (IYR) continue to lead the charge.
