The wild volatility and basing the S&P performed in January has produced a sustainable rally for the start of February. With ADP and other (earning) reports due before the January Jobs report on Friday. Techonomic Trading Analyst are looking for a minimal retrace from a possible light ADP and Jobs report due to the Omicron variant and the slight tick down to 1.2% in the fourth quarter of 2021 from 1.4% the previous quarter, according to U.S. Department of Labor data in wage growth. In our opinion this should cool down rate hike expectations going forward. Techonomic Trading Systems (90%) Technical Analysis (10%) Fundamental Trading made simple.