Wanted to give a brief heads up before the end of the trading day so people can take note of a few things. (My post later in the day will be more detailed.)
1. There is no resistance on the SP500 until 1197 (or so).
2. The pay-roll number can cause a pull back if it is really weak.
3. Jobless claims are a leading indicator to the pay-roll numbers. (They have been good, except for one +11k week.)
4. If the market does not react negatively to the pay roll numbers, there is no market resistance until 1197.
Keep this in mind if you are short. BUT, with that said, I will look to take SPY Put protection before trading stops. I will cover it if we get morning weakness, and cover if we get morning strength.