Market Ignores Dismal Jobs Report - Rate Hike Will Keep A Lid On the Rally

One Option Trading Blog http://ift.tt/2svx5au Posted 9:20 AM ET - Last week the market staged a nice breakout on good volume. The path of least resistance points higher, but I'm skeptical. Energy and financials have not participated in the rally. I am day trading from the long side and I'm keeping my overnights to a minimum. If this breakout holds through the FOMC next week, I will start taking some overnight bullish positions. Friday's jobs report was dismal and it runs contrary to initial jobless claims and the ADP report. Traders didn't put much weight in the number and the market marched higher. On a longer-term …