• We get the employment report today.  This could be quite important…but it will quickly become moot if the situation in the Middle East continues to deteriorate in a significant way.  (It’s crazy but EITHER a “melt-up” OR a “melt-down” are still both possible.)
  • The XLY consumer discretionary ETF has seen a mild pullback after reaching an overbought condition last month.  There is one key level to watch…which should tell us if this pullback will be short-lived…or will turn into a larger decline. 

 

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