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No Emotion

Okay, lets remove all emotion / sentiment and focus on the technicals... Yesterday the S&P closed right on her 50 day moving average and as we suspected, is sightly higher today.

That puts her 100 day moving average at 1110 and her 200 day moving average at 1120. If she can break through both of those, we'll have a nice rally on our hands. If she can't then of course back down we go, but the question remains, how far down? (Currently she is around 65% on the charts)

Basically the same can be said for DIG as yesterday she closed right on her 50 day moving average, putting her 100 day at $30.00 and she is also 65% on her charts.

SLV on the other hand has broken way out to the upside and is currently 97% on her charts. Just got to love that girl!

Anyway, what does all this mean? Really one could say it means nothing until we see the jobs numbers tomorrow. Then everyone will have a nice long weekend to think about it, and then see where we want to start the fall period come Tuesday.

Personally I believe no matter how bad tomorrow numbers are, and they will be, the market will find a way to go higher on really low volumes. Pushing towards the 100 day moving average and getting around 90% on her charts. Then comes the question... higher or just another bear market rally?

My answer will be to raise cash!

Disclosure: Long DIG SLV VXX Short QQQQ XLE XRT