This week we have a full barrage of economic data points starting with the personal income and spending numbers that have already been revealed, the PMI which follows a half hour into trading, the Fed tomorrow, ISM and factory orders, and the payroll numbers on Friday. Technically we have room to run still to the upside before consolidation should set in on my short term oscillators. We are still within the intermediate term down trend but that doesn't mean you can't be long. We started adding individual longs last week as a result as we changed our short term thesis.
They are starting this market out with a lot of carry over from last week. A bit to exuberant and I suspect they will come back in but the 1200 SPX area is now support and expect them to buy that zone now on the day.
They are starting this market out with a lot of carry over from last week. A bit to exuberant and I suspect they will come back in but the 1200 SPX area is now support and expect them to buy that zone now on the day.
0 Comments:
Post a Comment
Links to this post:
Create a Link
<< Home