Futures are up modestly in advance of the open.

ISM Services PMI comes out at 10am ET.  Remember that January’s data blew the doors off expectations. A similar performance this morning could throw a big monkey wrench into the 25 bps rate hike scenario.

continued for members… (more…)

It’s been over four months since the DJIA pushed up through its 200-day moving average. Aside from a couple of wobbles at that time, it has yet to backtest this important technical level.

It got close yesterday, and would probably have accomplished it this morning if not for CRM‘s 16% surge.

Once it happens, the other indices will need to make some quick decisions. SPX and COMP are both loitering on the wrong side of the 200-day tracks.

continued for members… (more…)

Futures are off slightly this morning……perhaps in order to facilitate the Dow’s overdue backtest of its 200-day.

continued for members… (more…)