So much for US recession, NFP in the US was well beyond consensus and puts into play where people were positioned even on rates after yesterday’s opening hours of pain but easing back by the end of the day.

We still believe equities are not positioned for this move in Rates. Going right to the 100dma after slicing thorough the 50dma yesterday. 2060 looks like where we find our fist bounce.

SPX june 5

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