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Originally Posted by coolhand

The market took a pause today, which was needed.




Modest losses on the day, but no technical issues at all.

Breadth actually ticked a bit higher and remains bullish.

NAAIM got more bulled up, with fewer bears among them. They are very bullish as a group now.

I remain bullish.

Stocks rallied again as the move off the March lows gets even more frothy than it has been. Today's action may be attributed a much better than expected ADP employment report which saw 2.76 million people losing their jobs in May - a prelude to Friday's non-farm payroll jobs report. The reason for the rally is that expectations were looking for 9 million or more to be added to that list, so it was a much better number than anticipated. The Dow jumped 527-points,and we're feeling some euphoria ...