WOULDA COULDA SHOULDA

Markets closed a little off their best levels but gave quite a performance in light of the 533,000 lost jobs in the month of November. What is clear is that it is very difficult to ascertain the economy that is built into these equity prices - obviously that is what makes markets.

The DJIA closed +260, NAZ +64 and the SPX +31 at the 875 resistance levels that we have seen before.

Strong sectors included brokers, reits, real estate, financials and biotech while metals, telecom and trannies lagged.

NYSE- 1275 net winners;

NAZ- 1110 net winners;

VIX- lower by 6% at 59.6.

The trade that I planned on from yesterday was the winner - trouble was the timing and with the real ugly number it was tough to execute- SEE TITLE ABOVE.

Next week definitely looks bullish for the markets as many traders will note how the markets have now shrugged away one of the ugliest jobs reports ever.

RSI (2) levels near the 70 area but look for those dips to be bought soon enough- Resistance on the charts through the 900 level - if we take those out could possibly see 1K before year end.