This week’s trading we could see more volatility, as a slew of economic reports will be released, most notably, Friday’s May employment report.
Yesterday session, though, manufacturing data was better than expected, with Markit’s purchasing managers manufacturing index (PMI) rising to 56.4. This report follows data released over the weekend, which showed factory activity in China soared to a five-month peak at 50.8.
This wasn’t really enough to move the market, and all of the major indexes were mostly flat, consolidating, for the duration of the trading day.
Expecting downward move to 3,668 on a break of below daily resistance at 3,713.60 (scenario 1).
UsaTec is a CFD written over Nasdaq 100 futures.