The S&P shot up to $1131.50 this morning after the jobs report came in at or just above expectations. $1131.50 marks the final tier of major resistance before we retest the January highs. Market has seen an impressive move to the upside this past week. The fact that the upswing has been on minuscule volume makes me a little suspect of the validity of this rally, but price is price and you have to respect it.
I am currently short the ES and some stock ETFs. I will think about covering some of those positions if we confirm a move above the $1131.50 on the ES.
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