Given our recent admonitions about waiting for NFP as the most important data event of the week, the directionality of today's rally would lead us to half fear / half expect some sort of retracement. Whether it's to be attributed more to technicals, profit taking, or stock lever, or round 2 of Goldman's penchant for insanely accurate11th inning NFP revisions. we've finally seen enough of that correction to discuss it. However, it should be noted that the magnitude of the correction is not nearly what we'd expect to see on the sort of inconsequential and technically driven directionality of week's past. So once again, although we're obligated to say it CAN happen as far as reprices are concerned, it likely WON'T happen. Not yet anyway....