Monday, 2 July 2012

10am update - Is it Friday yet?

We're only thirty minutes in, and I'm somewhat tired of this nonsense already. I'd rather just jump ahead to Friday morning, when the main action will begin with the monthly jobs data.

ISM manufacturing: 49.7  vs previous 53.5      ...VERY BAD.  




We have broken the FOMC peak - equivilent to sp'1363 on all the indexes now, so that invalidates the original count that many (myself included) were looking for.

Q3 begins.....quietly.

More across the day, not that I'm expecting anything other than low vol' melt up.

Upside target of 1375/80 looks easy to hit. 1390/1400 looks viable as early as Thursday - via the daily chart.