Hello everyone. Yesterday we got strong . Payrolls rose much more than expected, around 133,000, while the unexpectedly fell from 4.4% to 4.3%. The US dollar reacted with a recovery, but interestingly, we have not seen strong bullish follow-through.
Price quickly gave back part of the gains, and at the same time, stocks saw just a small setback but then stabilized nicely again. This suggests that risk-on sentiment is still present, which could weigh on the US dollar today. When looking at the SPX, seems like one more high is possible after some near-term setback to 6900-6920 support.
Upward projection is near 7,050, followed by 7,120 max if we get a throw-over.
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