Your MUST-READ Morning Stock Futures Cheat Sheet: Bulls getting nervous

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The Precise Take –  Bulls getting nervous

Big Picture Analysis – Yesterday, the ES broke 1390 support we wanted to see hold and has retraced just over half the late April rally.  Risk markets were down further on this morning’s disappointing payrolls data from the Unemployment Situation.  All is not lost for the bulls, as a snapback rally today would chase out recent shorts, but another test of the low 1350’s would likely not hold.

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