The job numbers did not affect the bullish sentiment of the market. The S&P 500 has now reached the first target of the 50 day moving average, the Dow is fairly close behind. Prepare for some profit-taking but as long as there is not a severe sell signal/severe selling, anticipate the bearish sentiment that had been in the markets for the past month and a half is now healing.
June 7th Daily Market Comments
The job numbers did not affect the bullish sentiment of the market. The S&P 500 has now reached the first target of the 50 day moving average, the Dow is fairly close behind. Prepare for some profit-taking but as long as there is not a severe sell signal/severe selling, anticipate the bearish sentiment that had been in the markets for the past month and a half is now healing.