A relatively quiet open..as expected. The 15min cycle is maxed..so we do have the opportunity to go lower for the next 2-3 hours. The 60min cycle certainly still pretty low, so it won't be easy for the market to sell off all the way into the close.
*ISM manu' data: 54.8 vs expected 53.0....and so the market swings back up 0.5%
Sp'60min
A break over 1406 would start kicking out those bears again.
I would really like to see a close under 1385 today -its a soft resistance level, although that is probably way out of range today, much more easily attainable tomorrow, later in the week.
As ever...more throughout the day.
*ISM manu' data: 54.8 vs expected 53.0....and so the market swings back up 0.5%
Sp'60min
A break over 1406 would start kicking out those bears again.
I would really like to see a close under 1385 today -its a soft resistance level, although that is probably way out of range today, much more easily attainable tomorrow, later in the week.
As ever...more throughout the day.
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