A Key Report

National Purchasing Managers is due to be released this morning, which will be closely watched. A low reading could increase the odds for a Fed rate cut.

S&PS are at 1169.30, roughly unchanged. On the upside we have 1170, 1173.50, a small area at 1176.50, a cluster from 1179.50 – 1180.50, which is a key and major area.

On the downside, we have a key area at 1167.50, a major at 1166.50, 1164.50, 1162.50, and 1159.50.

NASDAQ is trading unchanged at 1590. For today, we have support between 1585 and 1575. If we get below this level, look for the low from Friday to be challenged. We have support between 1553 and 1540.

Resistance is at 1600 up to 1620; this remains absolutely critical. If we can get above this, 1650 should be the next stop. We have light resistance between 1645 and 1650.

The Dow is called to open lower due to
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, which pre-announced a miss in estimates.