Stocks have ridden the jobs report higher all session though the move capped out about an hour back and there is some slight backsliding in the last hour. Slight.
SP500 30.25, 1.44%
NASDAQ 76.21, 1.56%
DJ30 237.50, 1.33%
SP400 1.81%
RUTX 2.30%
S0X 2.71%
SP500 touched near the all-time high, moving past the closing A-T High but faded modestly. Things must be great with 90% of the jobs going to those 55 and older. But those are details. In the small fish bowl that is now the US economy, those numbers looked big.
Lots of our plays have hit the entry point and we have moved into a couple. Looking at AVGO, AAP, CALD, PLAY, ROVI though we hate entering on Friday after a big move. Likely look at some partials on these and see how they work to start next week. Stocks are certainly gearing up for earnings runs. Some very good momentum. With the late modest fade the entries are a bit better.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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