Todays Jobs number pushed prices higher in the US markets. Prices for the SPX has now come back up above the previous up trending angle. We should watch for an intra-day pull back next week due to the fact that we are in a downward trending momentum. If our short-term trend turns up next week, that is when we could go long on the positions. A bearish note could have us count this up trend as an ABC up pattern. So we do need that short term trend to confirm the move up. We could also be setting up for a head and shoulder pattern so the push up today by way of the jobs number could just be a "Bull Trap".
Main-Trend: DOWN (Overbought)