Since the April jobs report has been given credit for fueling the run in the market that started last Friday (and I agree with that interpretation), I thought it might be a good idea to review some data.
Wednesday, the S&P 500 was up 0.4% to 1,633 (rounded), another new high for the S&P 500. Looking at the chart, the S&P 500 looks very close to parabolic up to me. (That would indicate the end is near for this rally, at least for a while, but who knows?)
The NTSM system sold at 1575 on 16 April. (This is just another reminder that I should follow the NTSM analysis and not act emotionally – I am under-performing my own system by about 2%!)