Another great day for the market. The fourth day of straight up action going into the end of the second quarter.
There were plenty of good reasons why the market should have at least paused a little, but the market prefers to frustrate players. Typically, window dressing ends a day or two before the last day of trading, but today a much better-than-expected Chicago PMI report caught the traders out of step.
The big question now is how fast things might reverse as we start the new quarter. We have been pushed up so much over the last four days and technically are very overbought short term, that you have to wonder if today will be a down day.
It would be nice to have a lot of cash going into today's trading day.
Today we are expecting the all-important ISM (Institute of Supply Management) report.This quarter begins with ISM data and then earnings and the debt ceiling will dominate traders’ attention.
There were plenty of good reasons why the market should have at least paused a little, but the market prefers to frustrate players. Typically, window dressing ends a day or two before the last day of trading, but today a much better-than-expected Chicago PMI report caught the traders out of step.
The big question now is how fast things might reverse as we start the new quarter. We have been pushed up so much over the last four days and technically are very overbought short term, that you have to wonder if today will be a down day.
It would be nice to have a lot of cash going into today's trading day.
Today we are expecting the all-important ISM (Institute of Supply Management) report.This quarter begins with ISM data and then earnings and the debt ceiling will dominate traders’ attention.
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