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So Much for the Bounce- Happy NFP Volatility

So much for the bounce-  S&P and TNX had both attempted to rally just after NFP- 215 headline-  Good wage, participation data, but manufacturing woes continue- -29k worst since 09-  S&P has just broken initial support at 2040 which should cause further weakness to 2032-4, area indicated in this am's Report-   Given the recent correlation in SPX to both TNX and CL..  the latter two have broken down and S&P now following suit.  UNDER 2020 more meaningful for S&P to expect larger correction-  For now, not too meaningful just yet, and S&P still quite resilient- Still right to follow UTILITIES.. and TELECOM, REITS given Yield implosion, and avoid Financials until more signs of stability arise-  2048 important to regain to expect rally-  For now, weakness down to 2032-4 likely