31 August 2016

SP 500 and NDX Futures Daily Charts - Phony Baloney

Stocks were still in drifting mode with a sideways chop, albeit with a little histrionic action in the morning.

Chicago PMI missed by quite a bit.

Pending home sales were 'better than expected.'  However, the prior month was adjusted from slightly positive to more negative, and the year-over-year home sales declined by a little more than 2 percent.

There is so little real volume on the exchanges that the algos have pretty much a free hand in shoving prices around.

This is a market not worth trading for the non-insider.

Have a pleasant evening.