Wednesday’s Trading – 5/6/09

The market is taking the ADP jobs number a lot more seriously than it has in the past. It looks like the futures were worrying about it last night, and are now overjoyed with it this morning. The SPX may test the next Fibonacci level of 917.18. Two rallies ended at that level back in December, so there should be at least some moderate resistance there.

This entry was posted on Wednesday, May 6th, 2009 at 9:00 am and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.