A blowout jobs number ahead of the state of the union address – color me shocked. From the last piece, I wrote: "I think stocks can go higher as the real economy continues to suffer - while official government statistics, central banks and mainstream financial media co-ordinate to do the job of"creating a rosy economic picture" that hard money advocates will see right through, as usual.
Prices are staying above the bear market downtrend line, as well as above the 4100 level, having pulled back after breaching 4200. In regards to a renewed stock bull, I also noted last week:"A move to 4175 - 4200 before a pullback into a higher low would be another reinforcing signal." The below is an updated weekly chart.
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