07 July 2016

SP 500 and NDX Futures Daily Charts - Holding Their Breath

Stocks were in a bit of a chop in edgy trading with eyes on the US non-farm payrolls report tomorrow.

Traders want to see if a good number will give the Fed cover to start making noise about raising rates at least another 25 bp this year.

As a reminder, the Fed wishes to raise rates to get off ZIRP far enough to have the latitude to cut rates later next year when their latest asset bubble starts to implodes in the continuing cycle of bubble-nomics.

Have a pleasant evening.