We have now reached the 78.6% Fibonacci retracement of the swing down since mid-January, and have back to back pause days there. this sets the market up for a put up or shut up move. Either we continue the grind it higher, or the bulls are rebuffed and we swing back to the downside. More sideways congestion is also possible, but not probable since we are at a key inflection point.
We may be on hold until after the Job Numbers either way, which are set to be released pre-market on Friday, March 5th. Will this number really make a difference?
