Good Afternoon,
The fundamental picture worsens (but who cares). If you do, today's
ISM Manufacturing report dipped into contraction territory. The New
Orders index dropped to a 3 month low and the Employment index droped to
the lowest level since September 2009.
The SPX is dancing between 1420 and 1390 and sold off a bit today,
but with 30 minutes until the close, could we have a late day buying
frenzy? I will update the SPX chart when it breaks out of the current 30
point range.
Posted By:
Brian Kahn
Brian provides regular commentary focusing on the relationships between various financial markets. An experienced trader and portfolio manager with over 15 years in the markets, Brian relies on fundamental and technical analysis to create trading plans for each and every market entry.