With the Employment Situation pending with an expectation one of the worst reports in history, the bulls remain relentlessly bullish.  Futures suggest yet another overnight gap after a day sluggish price action that struggled to find buyers until the last minutes of the day.  Don’t fight the bull party be have a plan when the music stops because it could bring out a wave of profit-takers at any time. The bears are nowhere to be seen, as they have been lulled to sleep with piles and piles of Central Bank spending government stimulus.

Asian markets closed the week higher across the board, and European markets are all green this morning.  Ahead of job numbers, the US Futures can see only bullishness expecting another big gap before the release. 

Economic Calendar

Earnings Calendar

On the Friday earnings calendar, we have just nine companies reporting today, with the only particularly notable being TIF.

Technically Speaking

What is there to say about this market except for relentless bullishness that occurs mostly in the overnight futures session.  After a day of very lethargic and slightly bearish price action, another surge in minutes of the day the Dow rose more than 80 points to close day green.  This heading into the Employment Situation report, we have yet another institutional overnight gap suggesting the Dow will open up more than 300 points. 

There is nothing left to but hold on tight and enjoy the ride and stay vigilant because it could end with the same extreme price action.  Have a wonderful weekend everyone!

Trade Wisely,

Doug