The market dropped on Friday after the government stated that the number of new jobs fell for the first time in 4 years . The market forecast was for an increase of 100,000 but the report stated a drop of 4,000 – the complete opposite.
The Dow fell 249.97, or 1.87 percent, to 13,113.38.
The Standard & Poor’s 500 index fell 25.00, or 1.69 percent, to 1,453.55
The Nasdaq composite index fell 48.62, or 1.86 percent, to 2,565.70.

We are in September the worst month of the year for the stock market. Most mutual funds are selling poor performers to adjust the books by the end of the year and make the returns look healthier. Stay in cash in September and wait until after Sept 18 for Ben Bernanke to announce what he will do with rates unless you are a trader and can take advantage of the volitility. The market wants a 50 basis points cut but I think the Fed will leave it alone.

The broad market will drop that day and continue south until the end of the month. Sept 24 is also Triple Witching Week on the market which means HUGE volatility. I think the S&P 500 will test 1400 first, then lets see where Mr. Market wants to go.