The June Non-farm Payrolls Report

"The headline jobs number came out worse than expected, and the paint peeled off the US stocks tape from its recent run into the end of the second quarter. The trend herd had been looking at the bounce off the bottom and before today's number had some hopes that the leveling off or even a surprise to the upside would confirm a bottom in the economy. The sharp downturn threw cold water on those happy thoughts."