17 August 2015

SP 500 and NDX Futures Daily Charts - Lazy Day In the Heart of Empire - The Summer Wind

Today was a very sleepy day in the markets, as the NYC metro area bakes under a hot Summer sun and temperatures in the high 90's.

The Empire Manufacturing number this morning was unexpectedly very negative, unexpected at least to the mainstream economists.

CPI and the FOMC minutes will be out in midweek.

But that did not really matter, and stocks flowed higher on the lazy, convictionless trade as it is often wont to do when the wiseguys are setting up a wash and rinse.   There will be a minor option expiration this week.

People may go on vacation, but crime never sleeps.  One thing of which we may be proud is that our financiers and politicians are never too lazy to steal.  They take a professional pride in their work.

Have a pleasant evening.