We had an ugly jobs report, but the bulls were indeed hungry to buy and we rallied into the close. The S&P 500 came within a couple points of a new high for the year. Gold made a late move and many of the metal stocks closed very strong. Traders are fearful of being left behind. There were even rumors of QE 3 flying around! In addition, many bulls view the tax cut extension as a “sure thing”. We are so close to highs for the year, there will be strong pressure to make at least a marginal high in the near term. Have a Nice Weekend.
*****We also had a special guest in the free chatroom today. Mr. Hanna from Quantifiable Edges brought some great insights. Check it out in the Chatroll archives.
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