Currently it is 8:52 a.m.c.s.t. and we are awaiting the first look at September economic performance via the ISM figure. The consensus call is for a small decline to 50.3 vs. 50.6 in August. Market is hoping for some strength in this number. Both bonds and 10’s are near current highs as we await this data.
Data came out 51.6 better than expected and there were some nervous rumors circulating that it might come in below consensus so we have seen 10’s and 30’s sell off a bit on the release. We shall see if equities can gain a bit of traction moving forward. Currently (9:03 a.m.c.s.t.) S&P is trading 1123 – RSI on hourly is reading neutral @ 50 however is coming off oversold levels from the overnight session.
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