02 January 2015

SP 500 and NDX Futures Daily Charts - Softserve Markets, With Sprinkles

I think most of the adults had the day off today, making it a four day weekend for the senior traders and all but the most hard core of punters, whose life seems empty when the market are not open.

Stocks opened like gangbusters, reflecting the jump in the overnight futures, but fell rather sharply at 10 AM when the news came out that the ISM index missed its target badly.

Does the ISM include monopoly priced healthcare spending?

At any rate the algos that read the news reacted sharply, and the market sold off. It managed to end the day almost unchanged, and then the futures sold off a bit again after the close.

Next week the adults will be back.

Have a pleasant weekend.