Today the S&P 500 couldn’t break up the resistance channel and closed in red. However the bears couldn’t take advantage of the pull back. Tomorrow the Non-Farm Payrolls report will come out. I believe it will decide how the market moves. One thing to note that last week unemployment claims rose to 402,000 from 396,000 of the week before. I doubt if the NFP would meet analyst estimate which is ~122,000. Last month the number was ~80,000.