Friday’s jobs report caused some minor profit-taking in major stock indexes, but not enough to alter the current uptrend. The chart below shows the S&P 500 dropping slightly Wednesday through Friday (but closing up for the week). I’ve pointed out that stocks are up against chart resistance along their summer highs and in a short-term overbought condition. That could lead to some backing and filling like we saw this week, but nothing too serious. The longer range trend remains positive.