Midday Market 03/02: Improved unemployment report triggers bond fears

The market continues to face pressure in this morning's trading session with SPX pushed back to 3930 while put positions continue to be bought below the put wall level 3900. The market mostly reversed and began to improve as morning liquidity was not high, with selling pressure only appearing on a few small stocks rather than panic selling. With the state at both ends after 4 days of low liquidity at “frustration” levels, put wall 3900 becomes an extremely important support level.