|Day Low/High||266.89 / 274.27|
|52 Wk Low/High||253.85 / 340.00|
This is precisely what has powered the monster moves we're seeing.
Banks and industrials are deal-less sectors in a deal-filled world, and that is what's making them suffer.
For the moment they're all just rolling over, but they can reignite.
Where it began. The rundown: U.S. futures are falling further after yesterday's breakdown. (S&P futures are down by 5 handles, and Nasdaq futures are 17 handles lower.) European stocks are very weak, with losses of over 1.25%. Nikkei is down by 1.05...
Transports, especially intermodal traffic, are confirming the PMI report.
Keep a close eye on what the Fed has to say on the matter.
The important indicators are wages and the labor force participation rate.
Favorable readings on economic activity and housing should translate into stock gains.
The jobs report, and several consumer names, will be top of mind.