WE have red! The S&Ps are down .5% down 5 handles currently….The bulls and bears battled it out during the regular session with the bulls, cough pomo, managed to close the market flat on the day despite an over 1.15% swing trough to trough. The dollar index was decimated the entire day all the way down to the 77.40 level before catching somewhat of a bid.
Clearly the carry trade is still wiggling, and bets are being placed ahead of the holiday season and the end of the year.
As for the regular session 1187.5 was the pre market high with the market opening in the 1185-1186 area before plunging nearly 10 handles to the 1176 level,
trading as low as 1173.50 before catching a massive big shooting us up 8 handles in a non stop buying spree. The after market session remained flat at the 1178.75 level before finally breaking down around 19:15hrs trading down to the 1173.25 level. This level is .25 below intra day lows of 1173.50. Look for this level to back into play as morning approaches. Upside levels for tomorrow are 1179 and 1182.
REMEMBER WE HAVE GDP tomorrow….
|Oct 29||9:45||Chicago PMI||Oct||58.0||58.0||60.40|
|Oct 29||9:55||Michigan Sentiment – Final||Oct||67.0||68.0||67.9|