After several days in a row of strong rallies, we actually sort of survived today. Open interest is rising fast and things are a little overbought in the very short term, so the fact that prices are nearly UNCH om the day is a testament to just how strong sentiment is becoming and just how lousy the economic conditions are trending.
Today's big data was the ADP payrolls report and the service sector PMIs. Let's start with ADP as it came in far less than expectations and sometimes this is a precursor of the BLSBS.
