In the Canyon, to navigate the sandy paths requires an all-wheel drive vehicle and a driver with a steady hand.

Harsh elements have made these canyon roads unpredicatable.

A novice can easily turn a joy ride into a disaster.

Lack of experience will make a driver succomb to a steering wheel that has a mind of its own. One false turn will veer you towards a rock, mountain or trees. Cars have been gobbled up in quicksand.

Trading the current market conditions requires an equally steady hand.

Thursday’s action put the Russell 2000 back in an unconfirmed warning phase. Transportation, a leader until recently, followed IWM’s lead.

Retail, already in a deterioration phase, perked up a bit after her sister Janet Yellen fed her some chicken soup yesterday. However, it did not spark any discussion to release her from the sick bed.

Luckily, Semiconductors and Biotechnology remain in the driver’s seat. Thus far, as the Modern Family’s chauffeurs, they have avoided quicksand.

Yet, can SMH and IBB find their way out of the canyon before falling into a sink hole?

Friday, the employment number comes out before the market opens.

Direct from the Federal Reserve’s recent Press Release, “The Committee expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, labor market conditions will strengthen somewhat further, and inflation will rise to 2 percent over the medium term. Near-term risks to the economic outlook appear roughly balanced.”

In reaction, interest rate sensitive instruments such as Real Estate (IYR) and the U.S. Dollar performed in opposition to one another.

After yesterday’s decline, IYR firmed and returned to an unconfirmed recovery phase as if to say, phew, rates will stay soft.

As if to say, phew, rates will rise, the U.S. Dollar firmed. The daily chart, ahead of the NFP, suggests more upside for both rates and the greenback.