01 August 2013

SP 500 and NDX Futures Daily Charts - A Record Close on the SP 500

A better than expected on manufacturing in the ISM Index and a lighter than expected number of new unemployment claims had the bulls stampeding higher to a new record close on the SP 500.

Tomorrow is the Non-Farm Payrolls report.

Traders believe now that the Fed will keep printing money while inflation remains subdued.  Or at least that is the word for today.