Category Archives: Russell 2000 E-Mini Futures
This past Thursday China’s flash Markit/HSBC Purchasing Managers’ Index (PMI) came in at 49.6. When this number drops under 50, it signals an economy is no longer expanding. This appeared to be the catalyst that triggered the US markets pullback. And I think that’s all it is, a normal pullback.
Nat gas has ripped through the $5 level on the deep freeze sweeping the country. (2 charts below)
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The first trading day of 2014 the markets pulled back and created new downside targets.
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As long as the Federal Reserve continues it’s bond buying, the market has no reason to stop going up other than normal back filling. $1200 looks real possible with 1230 being a major area of congestion.
Bernanke’s term ends January 2014. If the new Fed Chairperson doesn’t stop the flow of money, 1200 is very possible.