Here is just a small example how the jobs report can send shock waves through all asset classes. In a few days everybody will forget about it and then this wild move will become part of any other wild move we get in the markets.
I think the jobs reports are rigged anyways as it is put out for public consumption. Ever wonder where all the oil sector job losses count in this report? Besides next month they may just revise the numbers down and nobody pays attention to them.
The counter rally has produced a 7 wave rally, which at this time is still a corrective rally. Now the daily chart has to be reviewed, as this could also be a major top.