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Market Outlook - SPX Range And Oil Key Juncture

Despite Friday's modest stumble, last week was clearly a good one for the market, bringing it back from the brink of a significant correction and putting it back within reach of a significant breakout. Yet, as has been the case too many times over the past couple of months, the bulls just couldn't deliver the knockout blow to the bears when they needed to the most. This isn't to say it's not going to happen. It is to say, however, it's definitely not a done deal and a move back lower could well happen.

Economic Data

Though there was plenty of economic information to digest last week, there's little doubt what the focal point was... Friday's employment report. Though it was little changed, it's still worth exploring.

First and foremost, the unemployment rate edged a little higher, from 5.6% to 5.7%. Don't misinterpret that figure though. There were more employed… Read More …