Charlie's Comments:
News drives the market. The Bond caught negative news with the Ind. Production and Capacity Utilization numbers and sold. These numbers were supportive for the ES and the ES strengthened further post day session Bond with the release of IBM’s earnings. The economic news has gotten better than recently forecast. The economic slowdown may be starting to find its low. While only time will tell, we are starting to see economic numbers higher than forecast. Exports, tourism, agriculture, mining, energy and certain high tech companies have missed the slow down to date. A stronger economy mitigates the need to cut interest rates any more and allows the inflation news to move to the fore. Not much news on tomorrow’s schedule. This should yield at least one good sale tomorrow.
Josh's 2 cents:
Nice bullish day on Wednesday - Will it last? The volume will tell. Volume building at 1363 area will not hold and will start moving down. If low volume at 1363 area then as the price moves higher we are sure to see buyers come into the Emini S&P.
Fundamental News will have a marked effect -
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