The waiting game

The overnight session has one of the tightest ranges we have seen in a while as this market seems to be waiting for the employment numbers due out in the next two trading days. The daily Cook CCT added 7 + instances of tick yesterday taking our total to 110 for the short term. That marks 4 straight days without a minus tick reading as the daily indicator becomes more overbought. Technically we need to see a close above 1130 or a close below 1110 to coerce new participation in this market. The news items in the next two days might be the catalyst this market needs to pick up volatility and volume. Be  careful as we had an inside day followed by an outside day and this market seems poised for a big move.