Dollar up, futures up, unemployment edges up, even jobs are up. Everything looks great. Now it's a question of what will blink first.
Higher levels have won out on the S&P. It looks like the gap at 1433.81 will be the focus, if not even up to 1436 (which includes the 50-day MA). The 61.8% retracement level is 1440.82.
It's Friday, there are enough people who have missed this rally, didn't see it coming, can't miss it, or want to mark up their portfolios for the rally could persist.
On the other hand, it's Friday and people may want to book profits.
I've been holding a small hedge, SPY 142 calls that I hedged yesterday and this morning with SPXU. I'm looking to get out at the open, but that's just me and my position.
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