Markets avoided a terrible end of the week by being closed today. A poor jobs report and rising rates again on Spanish debt pressured Globex all morning. Egan Jones downgrading U.S. debt due to the lack of control on debt added fuel to the fire. Unless China cuts rates over the weekend, we are looking at an ugly Monday open. One small silver lining is that we already had some selling ahead of time and everyone is talking about the big miss online, but given how far we had ran since December, I am not sure how much it will matter Monday.
