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Daily Commentary
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Looks like the 1100 level is going to stick. The $64,000 question is can the S&P 500 move above 1150?
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It is all about the job data this morning. Can the advance continue. We believe that it can and should.
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Looks like the 1100 level is going to stick. Things are starting to get a bit frothy. Expect a pullback as the S&P 500 is now up 6 days in a row.
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We note the sell point on the VIX is 16.75. If the VIX drops to 16.75, then the S&P 500 will be much higher. Therefore, watch how the VIX trades.
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