05 October 2016

SP 500 and NDX Futures Daily Charts - Great System, Except For the Users

As you can see on the stock charts below, the two major indices are still winding within a fairly narrow range, with big tech a little more perky than the broader SP 500.

Stocks rallied on the ISM Services number this morning which came in much higher than expected.

On the other hand, the ADP jobs added came in much lighter than expected.

The economy would be great if there weren't so many members who are not in the upper crust ruling elite.   Why is the public cluttering up our magnificent system?

It reminds me of an anecdote from my days as a boy programmer, when the systems guys had the IBM 370 stable and exactly where they wanted it.   And one of them seriously said, 'It is working great now.  If only we could keep all those users off of it.'

The states have a three day holiday weekend coming up.

Non-Farm Payrolls on Friday.

Have a pleasant evening.