Friday Morning Update

Anyone who was expecting better than what we got on NFP thi morning must be on another planet, but, while it is contributing to the size of today's drop, the ,market was looking like it was in trouble yesterday. It was just yesterday morning I was talking about support at 1210, now our resistance level isn't even that high. So fat this morning the initial drop was as low as we have gone, and we are now getting some buying. The leading sectors are XLP and XLU, lagging are XLF, XLE, and XLI. The Nasdaq has a slight lead, the Russell 2000 about even. Oil i down, gold up, treasury yields down big.

I have 7 new highs so far, almost all of them gold stocks, and no breakouts. There is nothing on my watchlists scheduled to report earnings today.