Listen people, we still lost jobs last week. As much as the market’s will try to sugarcoat things now, the reality is here to stay. The report Friday said 36,000 U.S. jobs were lost in February, compared with forecasts 50,000, resulting in a rally that pushed the Dow and S&P to close at six-week highs.

So we LOST fewer jobs than expected but we still LOST jobs! Unbelievable.

For today please check out the SPX chart below. Watch for a sell-off this week down to the first support level at the least.