UP UP AND AWAY

Bullish news everywhere as the employment numbers are spun to be great, a not to hot not to cold number. Futures up in the premarket and Pisani falling all over himself bullish about the great month of August yadda yadda yadda.

Now for the real news; the brokers are all lower led down by GS MER LEH and LM. Semi's down about 1% on the great news and if you remember what led the markets higher it was the semis; so will they lead lower? IWM is lower on the great news and it led the markets recent rally contrary to what you might have heard on bubblevision.

Market internals started the morning with over 2,000 more winners than losers but that has been whittled down to about 900.

My take, I am keeping my eye open for the gap fill trade and then will go from there.

Don't be surprised if they ask Pisani within the next couple of hours - What Happened to the Rally Bob?