ISM service index was down slightly. When I combine this knowledge with $108 oil, Japan disaster and a downgrade in Portugal it leads to believe we should test the high end of our current trading range.
What actually happens will largely depend on the FOMC minutes that will be released a bit later today. Talk of inflation or comments of economic improvement could send us in the other direction.
As always...do purchases it takes the edge off of rate concerns and sell what you have today whenever possible. Talk of lower rates in the past or the potential of lower rates is why your consumers sit on the fence.
Have a great day!
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