The market got what can be charitably described as a weak bounce on the NFP release, getting as far as 1032 before pulling back. I have pivot points at 1038, 1034, and 1010, but you can probably give or take a couple of points. I would be very surprised to see us challenge the 1040 pivot today, but if we do it would be an incredibly bullish development. I also don't expect a drop below 1010, but if that happens it's bombs away. Most likely we will stay somewhere between 1020 and 1030. XLV is leading by a mile, but XLE, XLU, and XLK have some relative strength, and XLF is leading to the downside. I didn't notice yesterday, but XLF did break 14, which was a fairly important psychological level. Treasury yields gapped up at the open, but are pulling back in, and TNX never got back above 3. Oil uis up marginally, gold down marginally, and the Euro jumped up against the Dollar at the open.
I have 8 (that is not a typo) new highs today, with 2 breakouts, DLTR and INCB. Once again there is nothing to report on the earnings front.