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Stock Market Prepares For Jobs Report (NYSE:SPY) (NYSE:UUP) (NASDAQ:AAPL) (NASDAQ:AMZN)

Posted by Aadil on July 4, 2011 at 10:37pm
After one of the biggest rallies in years, the markets look towards the Non Farm Payrolls and Unemployment report this week. Last week the SPDR S&P 500 ETF (NYSE:SPY) ran from $126.81 to $133.92. The Dow Jones Industrial Average rallied over 6%. This was the biggest one week rally since July 2009. The cause of this rally was multi faceted. First, Greece saw multiple votes confirm new austerity measures. This ensured a new mega bailout for the government from the European Union. This new bailout will keep Greece from defaulting on its debt in the short term. The next reason for the week long rally was key manufacturing and other economic data. After the bears had taken full control of the markets in the previous two months, the bulls surged back as the economic data came out better than expected. Lastly, the weakness in the Dollar caused from the surge in the Euro, following the confirmation of the aid package to Greece gave fuel to the fire. These factors all helped the markets put in the biggest rally in years. Take the seven day free trial and get all the trade alerts for the week. Profit with the pros by joining the Research Center.

Last week was also a classic short squeeze. An overabundance of bears in the market yielded a squeeze of epic proportions. As the bears get taken out of the market and turn to bulls, the market will likely have a small pull back. This could start as early as Tuesday but most likely will see its full force on Wednesday with the ADP Private Employment numbers. 

Stocks like Apple Inc. (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN) and others surged last week. Many market leaders are now up more than 10% off their recent lows. In addition, they are nearing mega resistance areas. While the markets may ultimately head higher, it is likely to see a small pull back this week as profits are taken. Learn when to buy and sell the markets with the institutions. Join the pros and start making big money. Click here for a free trial.

Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
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