28 March 2016

SP 500 and NDX Futures Daily Charts - And Quiet Flows the Con

Today was an exceptionally quiet day in the markets, with volumes off almost 30% from the twenty day moving average.

Most likely this is because of the number of people who are on Easter holiday, quite popular in Europe and a thing for the upper crust in the states.

Economic news came in weakly this morning, with a big downward revision in the prior month for consumer spending and this latest number barely positive.

Stocks are largely dependent on corporate buying which is an established trend that may be running out of gas, if not already running on fumes as corporate bosses squeeze the last dollars out of the business to keep up their bonus hopes.

Have a pleasant evening.