Wednesday Update

My system moved higher to +1175 and the buy signal is still on. The rally looks in jeopardy with my system this high and the market's inability to move higher. Tomorrow will likely be a "nothing" day and my system should flatline which it usually does before the jobs report. The entire structure of the rally hinges on this jobs report. The only positive for the bulls is that today's poor ADP report may have speculative bears putting on shorts in the expectation of a poor number on Friday. Any significant upside surprise will likely see a 3-5% rally in the major indices while the lack of one will definitely send the market into correction mode. The Dollar had a large reversal today and any continued strength in the Dollar should also send equities lower. The $HGX is foretelling a correction with today's move unless it pulls off a significant reversal tomorrow which is unlikely the day before the jobs number. I won't post tomorrow unless there is some significant technical development in the market. My next post will be Friday after the market has decided the fate of the rally.