Futures are flat today even after a dismal ADP Private Payrolls report which came in much lower than expected. This figure, however, is quite erratic and most eyes are fixed on the Unemployment report coming out this Friday. It is entirely possible that investors will shrug off this Private Payrolls figure and continue to promote the bullish sentiment that has pushed us to all-time highs in recent trading. There is an ISM number coming out later this morning at 10 AM and if you will recall what happened on Monday, it would be wise to watch for the market’s reaction from this fresh ISM reading.
Monsanto MON reported earnings this morning, beating wall street’s expectations pushing the stock up just under a point or so. This could bode well for the Agriculture stocks which have been underperforming as of late.
The market has made things quite difficult for the intraday trader and it’s important to pay attention to these kinds of environmental trends so that one can adjust their strategies. Cutting down your time frames and trading size will help to minimize the losses during these complicated times. Exercising the discipline of NOT trading is also an excellent way to stay sane and stay alive!
GOOD MORNING YOUNG WORLD!
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