As we all now know, the monthly jobs report was very strong: the largest monthly gain ever recorded. However, I have always stressed that one monthly reading, especially of survey data, should be treated with caution until more data points are available. With the S&P 500 setting a new record for a 50-day gain last week, a correction has become increasingly likely. Once above 1%, there is further resistance at 1.283% (line b) and then additional resistance at 1.461% (line a). Don't let this week's positive market cause you to throw caution to the wind.

Source: Forbes June 07, 2020 15:00 UTC