Market Posture

Thursday June 27th 9:19 AM Posted in: Daily Blog

Markets have gone higher than I expected but still believe the resistance will be formidable. I am a bit nervous about the ISM Manufacturing numbers that come out Monday morning, please see article below from Seeking Alpha. Great to see discussions here finally, very helpful to those that get involved.

All the regional manufacturing surveys are printing better numbers.

This opens up the chance that come July 1, the market will be treated to a nice ISM manufacturing index, since it closely tracks the aggregate of the regional surveys. And with the last print being 49, which calls for contraction, and the likelihood now being for a print above 50, this seems the kind of number able to move the markets positively.

Additionally, this will be anticipated by many market players, so I wouldn't be surprised to see some buying ahead of the number. With the number hitting on Monday, this leaves us 3 market sessions in the present week, in which to accumulate stock.

Regional Manufacturing Surveys

Every month, before we get the ISM manufacturing index, we get several regional manufacturing surveys, including Dallas, New York, Philadelphia, Richmond, and Chicago. As I write this, the first 4 have already been reported, and they were as follows:

50%

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