I know a guy who has been shorting all the way up for this to crack; i'm sure he's looking for a few more days of momo to cover his shorts. I myself am looking for a day or two more of downside and my perfect scenario is or the spoo to wick through the 50% fibs into the 61.8% just to shake a few more ppl out -- that'd be the perfect scenario for me -- plus, that's near the 100dma.
I am still bullish on the market and I thought that news was stupid, of course the teevee & journalists would find something random to talk about. I don't think the fed can raise rates that soon still, unless they want us all to die from deflation.
The job market was good from the numbers on top, but digging in deeper, it still sucks. People cannot find jobs and are giving up.
Also, with the US trade balance going hardcore south probably b/c the USD/JPY is so strong from Draghi and Abe printing like crazy, EUR/USD.
Jobs added in Jan and Feb chart were not the highest of quality
(Also, take a look at the rig counts)[http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/03/20150306_rig2.jpg] Eventually when all of these rigs shutdown, the unemployment numbers will spike higher again since all of these petro engineers are getting laid off -- idk why the LBS hasn't included them in the #s yet and that's a question everyone keeps asking.
Then again, who am I to ask questions around here. lol.
I just jotted a bunch of ideas; I hope that made sense.
