Good Morning. Enjoy the absence of economic data today, because the remainder of the week is packed. The highlights of the week are ISM services on Wednesday, FOMC minutes on Thursday and non-farm payroll on Friday. That’s a lot of big news facing a market that is looking very shaky.
I continue to believe the Fed launching QE may in fact be less potent than the rumors of it. News as witnessed on Monday with an improved ISM manufacturing was sold off. In the past bad was good and good was good. Now it appears good may be bad. Got that?
The indices face some big tests today. As discussed in Monday’s Market Recap the Mid Caps need to hold