Daily Delphi

Post: Wednesday - Dead cat bounce or not? | Daily Delphi

BlogsPit Talk › Wednesday - Dead cat bounce or not? February 5, 2014, 6:50 am

TODAY'S ACTION
6:00 AM CT
MBA Mortgage Index for 02/01
Prior -0.2%
7:15 AM CT
ADP Employment Change for Jan
Prior 238K Forecast 176K
9:00 AM CT
ISM Services for Jan
Prior 53.0 Forecast 53.5
9:30 AM CT
Crude Inventories for 2/01
Prior 6.421M

In overnight trade Asian stocks closed mixed and European equities rose for the first time in four days. The question today is, was it just a dead cat bounce or will the markets begin to even out? Before the open we'll see the first employment data of the week with the ADP number. The ADP number is a preview of Friday's nonfarm payrolls. Investors are undoubtedly nervous but without any dramatic news today the markets are likely to chop around while we wait for Friday. Trade wisely.

TUESDAY RECAP

The world breathed a collective sigh of relief yesterday as the markets rebounded from Monday's drubbing. The markets recovered roughly a third of Monday's losses. The Nasdaq led the way, adding 0.9% while the Dow Jones Industrial Average rose 0.5%. The S&P regained +10.90 to close at 1743.70. All good news to be sure but after Monday's beating a bounce of some kind was sure to come.


Share on StockTwits
comments powered by Disqus