NFP came in at 203,000 on consensus of 185k. The consensus keeps getting beat with Non-Farm Payrolls, last month it was a modest 120k consensus with a print at 204k which was revised down slightly to 200k.
The Unemployment rate dropped from 7.3% (consensus 7.2%) to 7
This means one thing for a F_E_D taper, MORE LIKELY, but if you're looking for the truth, this is "Seasonal Adjustment " season and the numbers the DOL Excalibur 2000 spits out are goal sought, just input what you'd like and it will figure out how to make that happen, this happens until about April, all the Eco-data looks a lot better, then falls off a cliff after the seasonal adjustment period ends.
That means it's likely the F_E_D wanted a print above 200k. As for the Unemployment rate dropping, remember the size of the work-force is dropping as people drop off extended benefits and thus drop off the labor force, so the unemployment rate shrinks because there are fewer people eligible to be counted as "unemployed", but they're still unemployed.
The market right now is very volatile with wide swings to hit all of those buy/sell orders. Make no mistake, this is TAPER ON/QE OFF NEWS the bulls didn't want to see.