Friday's discouraging employment report knocked the market down over -3% for the day and, therefore, the S&P 500's trading range between 1106 and 1041 remains intact.
Historically, after a strong rally (March 2009 to May 2010) and a sharp "Flash Crash" tumble, stocks move sideways for 3 to 6 months before the trading range is resolved, either to the upside or the downside.
See our May 2nd post for my previous analysis of this chart...
http://protect-your-assets.blogspot.com/2010/06/s-500-carving-out-trading-range.html
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