The market is getting excited about a lousy Employment number that wasn't as lousy as expected. The futures bounced to a high of 957.50, and is currently at 953. Let's see if 949 holds as support. The 50% correction between the 922.50 low of two days ago and this morning's high of 957.50 is 940.
Looking at the Index's weekly chart, resistance is in the 960 - 965 area. The 50% correction of that large down wave from August to March is near 990.
Charles
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