After having Friday and Monday in the red, we assumed that a relief rally was coming. We went in to the upside on Monday and closed our position at the open Tuesday morning. We had a downtrend to close the gap, and the market made its way back to the upside. We are still looking at a bull market, and 190 is still our target. Consumer Confidence rose to 78.2 vs 78.1, and new home sales was shy in expectation. We have more economic data coming this week and the next.
Upcoming Economic Events
- Durable Goods Orders Tomorrow at 7:30 AM
- Bank Stress Test Info Tomorrow at 3:30 PM
- ISM Manufacturing PMI In 7 Days at 9:00 AM
- ISM Non-Manufacturing PMI In 9 Days at 9:00 AM
- Nonfarm Payrolls In 10 Days at 7:30 AM
| SPX : | 1865.62 | +8.18 |
| DJI : | 16367.88 | +91.19 |
| COMP : | 4234.268 | +7.883 |
| VIX : | 14.02 | -1.07 |
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