Setting Up For A Rally Next WeekThe Unemployment number surprised all of the money that had been shorting commodities. They are probably going to try to close out the shorts today.
Over the week-end the information will be reviewed and money should start going back into into the market next week. Though some are trying to spin the news as negative - if you look at the revised December numbers, then January was a strong improvement and puts us on the trend for Feb job adds.
The overstated numbers in December got people thinking we were ahead of where we really were - but the recovery is real. The move by the Chinese to reign in lending was a good one, though short term traders would see it as bad, longer term investors should see anything that discourages high risk on a broad scale as a very good thing.
Just FWIW - I have not bought or sold a share of Bank in a year (check my posts) - but I did actually buy some more this morning.