9:00am (EST)
The market started the week with a mixed session as the blue-chips had another down Monday along with the small-caps, but not by much, with Tech and the broader-market showing some strength. Most of the suit-and-ties were calling for a pullback following the prior week’s high so the action was favorable and lead to Tuesday’s rally which again set new all-time highs despite a weaker-than-expected Nonfarm Payrolls report. The “official” unemployment rate dropped to 7.2% as August numbers were revised but we often mention the real rate of unemployment in our great country os north of 15%.
There was a little weakness in Tuesday’s session as Tech and the small-caps danced in the red briefly and were good clues for Wednesday’s pullback as the market fell 0.5%, on average. The good news for the bulls was that they held support and rebounded on Thursday to push resistance. Friday’s session was a little choppy as the bears tried to get back to even following an opening pop from the Tech sector but the bulls pushed weekly highs right into the close to keep their momentum going. (continued…)
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