Market Stage A Turn Around

The U.S. Non-Manufacturing PMI report came out at 10:00 AM and that changed the market trajectory. The reading of 56.5 was above the forecast of 53.3 and better than last month’s reading. After toping 60.3 in August 2015, the PMI is on a downward trend but still above 50 which indicates expansion. Before the report…

Market Diary – Wednesday July 6, 2016

Rectangle Trading Box A rectangle trading range is emerging on 6-minute char of S&P 500 futures. The high is bounded by 2084.50-2085.75 reached at 4:54 PM on Tuesday and at 3:24 AM on Wednesday. The low is bounded by 2067.50-2066.75 reached at 10:42 PM on Tuesday and 7:00 AM on Wednesday. Directional Bias For The…