Stocks pushed higher at the end of Thursday, extending gains from the previous day, as investors prepare for a critical report on the U.S. job market on Friday. The S&P 500 Index wrapped up the day with a gain of 9.8 points, closed at 1090.10.
Tomorrow's job market report is very critical. It's very risky to hold either long or short at this moment. I still holding the SPXU which I bought on Wednesday. I had no chance to cover my short today because the market was at positive zone all day. Eventually, I decided to hold it through Friday's job report. I know I make a mistake this time. Hopefully, it will turn out to be a lucky mistake.
Tomorrow market will gap up if the report is very positive, it will gap down if the report is ugly. It may be a good opportunity for day traders. SPX 1100 is a critical resistance. If market gap up and reach that level with extreme overbought RSI on 5, 15, and 60 minutes charts, I will short this market. If market sink, watch support 1080, 1070 and 1065.
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