DailyWatch 7-25-16

 

Today’s Markets

In Asia, Japan flat at 16620. Hong Kong +0.1% to 21993. China +0.1% to 3015. India +1.1% to 28095.
In Europe, at midday, London flat. Paris +0.7%. Frankfurt +0.9%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude -0.6% to $43.94. Gold -0.5% to $1316.40.
Ten-year Treasury Yield +2 bps to 1.58%

 

Today’s Economic Calendar

10:30 Dallas Fed Manufacturing Survey
1:00 PM Results of $26B, 2-Year Note Auction

 

 

Daily Market Summary

The S&P futures are trading at 2168.50 this morning. So, what is the next move? Do we move higher or come back and test the 2123 support ? I think we will go and test 2200 on the /ES before we go test support. It is possible we could have a parabolic move and charge all the way to 2280. The markets do not have to be rational. Continue reading “DailyWatch 7-25-16”