AM DATA on employment and unemployment rate, so futures pointing to flat open until everyone knows that number....SPX traget of 1150-1170 still possible or slightly higher before rally completes......hard to say whether this number gets jobbed at all, subject to revisions......heavy layoffs are behind us, most companies already did bulk of firings...forcing existing workers to do more, not worrying about wage growth in this environment.
It's job growth is problem, may be key to overall economy....this far into "recovery" it hasn't shown up.......downside target I have is 800-900 with lower test of March lows possible, SPX potential when smoke clears. 2.9% 10 yr note isnt acting like recovery is here....I will be on road this AM, will be back later
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