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Bears seemed to wrestle back control on Wednesday after the poor showings from ADP Employment and ISM Mfg. Next thing you know you have a shockingly strong Jobless Claims report on Thursday and the Bulls counterpunch with a move back to the highs.
It would seem a lot is riding on the two big economic reports on Friday:
Government Employment +153K consensus vs. +88K prior
ISM Services 54.0 consensus vs. 54.4 prior
Then again with the ECB stepping up accommodation alongside the record breaking moves by the central banks of Japan and the U.S., then perhaps best to heed the old saying "Don't Fight the Fed" ...here or abroad.
I would wait for the Friday morning reaction before determining your next move to get more long or short stocks at this time.
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