WEAK JOBS REPORT WEAKENS STOCK FUTURES AND INCREASES LIKELIHOOD FOR MARKET CORRECTION

STOCK FUTURES WEAKEN ON FRIDAY... A disappointing jobs report on Friday caused U.S. stock index futures to fall 1%. My Thursday message wrote about the likelihood for a market correction. That was based on the fact that stocks are overbought, the tendency for the seasonal trend to start weakening after April, and heavier selling in foreign markets. A sell signal on daily MACD lines also took place during the week. The weak jobs report on Friday, and the negative reaction of stock index futures in an abbreviated trading session, increase the odds for more selling next week.