Funnies don't support the ~2% drop we've seen.   I'm thinking oversold.  

Wage pressure was the best part of that report, BTW

I almost mentioned that .4% pop in avg hourly wages.  My recollection is that when low income workers finally get a raise after years of recovery, the end of the growth cycle, as well as the stock bull run, is near.

Dunno about that, but wage pressure is a prime motive for the fed to start tightening..

Tim, some techs look scary. Charts of the indices and unemployment rate show probable topping in the indices.           

Can you elaborate?

.... dude.... the non-farms do not matter anymore.... we are at "full employment" ....where states are paying people with disabilities under 65 to go back to work and subsidize all of their Medicaire.... 

====================================

DUDE....

the only way to hire somebody else now .....is through WAGE INCREASES to steal them away....

"Can you elaborate?"

Tim, in almost every instance, when the unemployment rate bottums out, the monthly charts of the Indices peaks. Conversely, when the unemployment rate peaks, the monthly chart of the Indices bottoms out.

Hopefully, some techie here might be able to provide a monthly chart of the indice and unemployment rate. Mike the plumber?

This week was a large bearish engulfing candle.

From 1950 – present, this has only happened 3 other times. It was indeed more bearish than bullish for the stock market going forward, but it’s hard to draw conclusions from a sample size of n=3

.....   new highs comin' up.......   the money is now in the right place......

                         ----   1950's ...........      ttttttppffftttt .... no .......

   ..... we call that jerk=jack

..... THE FIRST HOUR OF S$P TRADING COVERS THE WHOLE RANGE OF 1950-1970.......

Bullish action confirmed.