Stocks: With Friday’s employment report, a few things began to clear up. The first one is the correct cycle count on the stock market. With the break to new lows, it’s now apparent that April 10 formed either a very stretched, or very short daily cycle. I tend to lean toward the very short cycle interpretation based on the trend line breaks I have illustrated in the chart below. But one could make the case for one very long, extremely stretched daily cycle driven by long-term refinancing (or LTRO) and operation twist. No matter how you interpret the last two daily cycles it’s now apparent with the break to new lows ... (full story)