Chart of the Day: Bears Hanging In...

In this morning's video I mentioned that today's rally off the lows, amid what had to be -- based on the character of the recent rally -- the last thing the bulls would've wished for (today's employment report), could've to no small degree been the result of some serious short-covering. If, that is, it didn't all get taken out during last week's rally.

Well, yeah! There remained a serious net short position among SP500 futures traders coming into today's session:

Lots, lots!, left to play out here folks...