SP 500 and NDX September Futures Daily Charts
Courtesy of JESSE’S CAFÉ AMÉRICAIN
There was a big rally today that started last night with the futures.
It ran up to overhead resistance levels, and continued to be led largely by the SP futures, with the broader market lagging the push higher.
Whenever this happens it is hard not to be skeptical of the character of the rally. The Jobs Report is on Friday, with the ADP report on Wednesday morning. Consensus for the Friday Jobs is a loss of 87,000, and for the ADP report expectations are for a gain of 25,000.
SP 500
NDX