What I find that's nifty is Wall Street's ability to turn lemons into lemonade. The jobs generation was the worst in more than 2 years, but whisper numbers were down at 50k so it's time to swing from the chandeliers where the bulls are concerned. The graphic to left comes from Marketwatch where their headline reads, "Reassuring Data On Payrolls". Pardon me for being a simpleton, but when the bars in the chart to the left are getting shorter that doesn't seem to be reassuring.
The S&P 500 is poised challenge the Fibonacci 38.2% retracement today.
But to be a convincingly bullish rally, volume has got push past the 2 bln mark today. It has trailed off this week ahead of this morning's data - will it sharply rebound?
Quicksilver (ZQK) is getting hammered - down about 13%. Analysts galore have been cutting ratings and estimates on the stock after the action sports apparel maker posted weaker than expected earnings. It wasn't snowy enough to spur sales of its products. Odd how the weather is blamed as being too cold for jobs creation and for hurting sales at other retailers, but not bad enough for ZQK.