DaBoyz used an ostensibly bullish payroll number to distribute stock in the opening hour; then, the mild weakness that has prevailed over the last four days resumed. It did no technical damage to the intraday charts, but the immediate picture would darken if the two lows labeled in the chart (see inset) are exceeded on Thursday. Were that to occur, it would add to the evidence that the Trump Rally is feeling more than just minor fatigue. A breach of the lows seems likely, given that the futures went nowhere after tripping a seemingly promising ‘counterintuitive’ buy signal when they hit the green line early in the session.
