Analysis:
Yesterday's Analysis predicted that "the private payroll increase will disappoint because the consensus of 75,000 increase is a lofty expectation," and today the increase turned out to be 64,000. Upon the release of the news, the index futures dropped to as low as 1,148, but after opening the market spent the rest of the day climbing on the optimism that the Fed will conduct QE2 in Nov. Looking ahead to Monday, the market will consolidate while digesting the employment numbers.
Strategy:
Hold short at 1,157
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