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A few Technical factors argue for Positive stance Post NFP

All stable ahead of NFP- US Index futures have been largely unchanged since this time last week, while the biggest movers have been European stocks and CRUDE, with Europe facing largest weekly decline in 2 months while Crude has given back most in 5 months time, though arguably still above key 6 month trendline >45.  The US Dollar is giving up a bit of yesterday's gains, while Gold continues lower and Pound Sterling has stabilized also near 1.30-   For S&P, key levels will be 2109-2112 on upside to sell, and then 2081 on downside with 2061-5 also having importance-  Overall, a few things make a bullish stance more appropriate than thinking a giant decline happens post NFP:  1) Advance/Decline recently hit new All-time highs with the number of NYSE new 52-week highs reaching the highest levels since early 20142) Healthcare and Industrials have begun to strengthen - 3) BOND yields have shown evidence of wanting to rally, based on stabilization, oversold conditions, counter-trend Demark signals, and sentiment4) A bottoming, however temporary, in bond yields would be good for European and US Financials which have led the market lower lately5) Sentiment, while having improved of late, still is more NEUTRAL and not at levels which have coincided with peaks in price, nowhere near exuberant while S&P lies 1% from all-time highs.   The preponderance of the evidence, structurally seems to favor that this neutral range breaks out higher, vs a big selloff, but 2065 will be watched carefully for signs of being breached on a close.  For now, early dips should be buying opptys


 Hourly S&P chart shows range heading into NFP-  Pattern remains quite constructive in the near-term with recent 5 day consolidation helping to alleviate some of the overbought conditions

Larger Daily pattern remains somewhat erratic not unlike what was seen in Gold of late with a broadening formation, which lead to 1315 being sold aggressively in Gold on a breakout attempt-  Similar areas here for S&P lie near 2133, but initially 2109-21112 is important