Moving Forward After Employment Numbers
With the employment number now history we can now look at a period of settling in for the market. Over the next 60 days look for the S&P 500 to trade between 1180 and 1270 and pivot around the recent 1230 highs. Political debate on employment will now take center stage and my guess is that positive results will eventually evolve.
Gold buyers continue to hang on to the bad news but the fact is that pressure for lower prices has been building in the background for a number of months with the Osama elimination , the end of QE2, and little incentive for the Fed to take on the hard money crowd with a QE3.