In the Pre-market, we saw the markets hold on to the gains from Tuesday and pushed higher. We opened with roughly a ten point gap on the upside with decent volume (350k). We had a couple of news items coming at 10:00 and in our pre-market analysis we looked to see if we could get a continuation of the strength.

In the Cash Market, we saw the 10:00 news push the markets up 15 points! As the ISM manufacturing index came in well above expectation. (For more details on the news you can read here www.bloomberg.com/markets/economic-calendar) Unfortunately sometimes when you get this kind of strong action on the upside and the buyers hold on to the gains tightly it can lead to an extremely flat day. This is what ended up happening as we tried to look for the second pullback to get on the long side after the big move however the buyers just held all day.

Autotrader: No trades

Looking ahead to Thursday we have a day full of news so we could see some good action. Also the last few days have seen some decent volume and we expect this to continue as we start a new month with high expectations!