{+++} The S&P opened strong, then sloped lower from around 10 am about 2pm then it tried a rally and closed a couple of handles from the highs.
Japan officially and dramatically joined the ranks of the other governments that are buying back debt. Below is a 5 minute chart of the reaction today. As you can see, a powerful opening. You can click on the image to enlarge.
Markets love this stuff, so even though Japanese stocks have had a nice rally this year, it will probably go much higher. The “reflation” trade is all the rage now.
This small correction so far has resulted in a couple of stops which is part of the game. The non farm payroll number is out in the morning, but barring a disaster, I would think the market will take it in stride.
Tomorrow could be active either way, so get some rest.