No change in market dynamics – similar to 25 handle pullback of the then – fresh new all-times in the S&P 500 and DJIA mid-November.
However, we are seeing some momentum traders backing off as we head into tomorrows ADP employment data
OPEN 1794.00 – 1794.50
CLOSE small $130M to sell
VOL 1.7M ESZ & 5.8k SPZ
ADP Employment Data
Fridays employment data,
More tapering jitters
and the mid-December FOMC meeting.
***It must be noted again that tapering is not tightening …