Today I look at the rally that took place from as soon as the good news on the jobs numbers came out. The market managed to rally a little bit above the 38.2% retracements on both the S&P and the Dow Jones, but as you can see, the resistance in my channel was the top of the rally, and we managed to short right at the top. With the market falling mid day, it seems like we got ourselves a potential reversal. I recommend not being too bearish just yet until the S&P channel has completely broken ...