The market wants a gentle landing in the economy and an early reading of the May jobs report is supportive. For a soft landing, the market wants to see data that shows the economy is cooling, but not too much. Overheated and there are concerns that the Federal Reserve will continue to raise prices. That’s great, and there are fears that the economy is going into a recession. So Goldilocks is something everyone wants, and it is proving very elusive. On that basis, the May jobs report passed the test, coming in at 390,000, higher than the 328,000 expected but still 428,000 lower than in April. What a rally, but no one yet. believe it. The S&P 500 is up 350 points or 10% over the next 10 days. You would think that most market observers would believe that some kind of bottom has been placed, but no. Skepticism remains the order of the day. Typically, this is the comment of Craig Johnson, technical analyst at Piper Sandler: “Overall, we remain skeptical of the sustainability of this rally due to the lack of evidence of a bottom. In this case. worst, we see 3,500 as a target drop… “That would be 16% better than where we are currently. No one believes there is a bottom because volatility is so high. Dan Wiener, who runs “Independent Advisor to Vanguard Investors,” notes that historically the S&P 500 has fluctuated 0.7% on a daily basis, but this year it has risen on average. 1.2%. He writes of what he calls the “negative 3.5% Solution,” noting that when the S&P 500 falls more than 3.5% on a single day or series of days, they often don’t have a buying opportunity. . From June 1983 to the end of March 2022, the S&P index fell 3.5% or more in 65 separate days. Buying the index on a down day has generated an average return of 25.6% over the next year. It was positive 55 out of 65 times, the 12-month average gain was 12.4%. These 3.5% declines have happened three times recently: April 29, May 5, and May 18. Wiener doesn’t call a bottom, just noting that “buying on big dips in a day were profitable more often than not if you’re willing to look out for just one year. His advice: “Be persistent with it. You won’t be disappointed.” Dan Wiener will be available on ETF Edge on Monday, June 6 at 1 p.m. ET. There is no hope for lower airline prices. This morning, American Airlines was the carrier. The latest airline announced that its revenues were higher. Alaska Air did the same on Thursday night, the company said in a statement: “We continue to see strong and sustainable air travel demand throughout our network,” the company said in a statement. we…. Stronger sales are offsetting the rise in oil prices.”