It is 9:22 ET now.
I will short S&P today (SPY ETF). Market is over extended. 157000 job does not justify the market to be high of the year considering high price of gas and all uncertainties. I will still keep my ADI.
Market is rangebounded. It neither goes up or down. Nothing wrong with that. It can stay like this for 2 weeks. I bet market will be 2% lower by the end of this week.
Market should go down today and here is why:
It started with mildly down and then after the factory report at 10, it became positive just a little and then it retreated. Now I believe that S&P should be down about 0.5% today.