New Strenght?

The markets managed to find new strength to escape negative sentiment from the last week.  It looks that the S&P 500 support was broken for just one afternoon and that could prove to fuel further short term gains.

No major economic data today, so just a short look at yesterdays. The big news was ISM Manufacturing Index which was reported at 58.4 vs. 55 consensus and 55.9 reading the month before. The highest reading in at least 5 years. Big.

Personal Income and Outlays Report was another story, no change in short. A clear indication that the recovery is only statistical.

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This entry was posted on Tuesday, February 2nd, 2010 at 11:51 am and is filed under Markets. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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