Nonfarm payrolls and unemployment rate announcements today will give market a push. Up or down I don't know, but short positions should not be kept above 1407 and long positions should be stopped below 1375 in my humble opinion. As noted in yesterdays post, a new low below wave A (1393) was expected. So the minimum requirements for a correction A-B-C are fulfilled. This is true for the bullish scenario. For the bearish scenario a series of 1-2 from 1415 with a 3rd wave down being expected. However this scenario has a small drawback. The move from the highs is not impulsive....yet. It needs time to unfold. The bearish scenario will strengthen under 1376 and 1358.
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