This payroll result should be a reminder that just because there aren't a lot of new legal restrictions doesn't mean consumers won't change behavior.
Despite my pessimism on the market, when the music is playing you have to dance.
But here's how an options trader could play this one.
The overall market seems to be mispricing the threats of rapidly increasing prices and the fast-spreading Delta variant.
And Chairman Jerome Powell in his Jackson Hole speech offered clues as to what could trigger an end to the Federal Reserve's zero interest rate policy.
The primary issue with seasonality is that it can be a good excuse for corrective action in the right environment.
The largest tech investors in Asia and Africa are scouring India for prospects after souring on China.
That's the challenge for the Fed as it tries to determine the timing of tighter policy.
For now, it remains a guessing game. So until then, enjoy the free ride.
While all cyclical equity sectors did well, last week's push into more economically sensitive equities was indeed led by the energy sector.