Flirting with the Swing Points
The swing points of the trading ranges we mentioned the last few days are 1625 on the S&P, 144 on bonds, and 1400 on gold. Yesterday we saw the S&P go down to the swing point and bounce, it will not go far.
For this week the big news the market is awaiting is the employment report. If it is good the analysts will talk about tapering, if it is bad they will talk about more QE. So, nothing new.