HIGH: 2181.50 On the Open
LOW: 2173.25 Early Afternoon
LAST: 2174.75 Down 3.75 Handles
TOTAL VOLUME: Less than 1mil ES Traded (including Globex).
NFIB Small Business Optimism Index, Productivity and Costs, Redbook, Wholesale Trade, a 4-Week Bill Auction, and a 3-Yr Note Auction.
It was a quiet day today, the S&P’s only had a 7 handle range.
Last week, volume was lower than the week before, but today’s volume was noticeably lower.
Additionally – There are a lot less economic reports out this week than there were last week.
The ES was really quiet today, but I really think that today was just a ‘rest’ day and we start to go back up tomorrow and close abobe 2176.00 – I think the ES is going straight to 2190.00 – Then 2208.00.
Monday’s have not been all that good, and it looks like they are buying bonds/selling S&P’s.
Crude oil is doing exactly what I said it would from the $40 level. I said the next $4 would be up, and so far they’re up $3.28.
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