There seem to be more and more signs for concern in the markets.
Tensions in Iran continue to mount which is driving oil prices higher. Higher oil prices are never a good thing for the global economy.
Manufacturing PMI for China came in at 49.7. This is up slightly from January but remains the fourth straight month under 50 showing continued signs of contraction.
Manufacturing PMI for Eurozone and Germany came in lower than expectations.
Although markets are still near their highs, there is minor selling pressure of late and the market is due for at least a small correction.
Existing Home Sales in US due out at 10:00am EST
Levels to watch today on the ES:
Resistance above at: 1364.50-1365.50, 1367.50-1368.50
Support below at: 1354-1355, 1348-1349, 1344-1345
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment