Today we have non farm payrolls which is at 1.30pm. Often a key market mover so the next major move will be decided after this news. Even if the news is very positive and we rally I expect traders to book profits before the end of the day and a sell off to come in. Why? Because the market's are shut for the next 4 days and with Spain on the verge of collapsing, would you want to be holding onto long positions over the weekend? The market could rise towards 5390 if the Non farm payrolls is very good.
Its also the 1st of a new month where funds commit new monies into the market.
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