The Comex PMs are bouncing today after a steady stream of positive news since the JOLTS report of yesterday. Will this bounce continue through today's service sector PMIs and tomorrow's BLSBS? Maybe. IF it does, we'll be looking at finally breaking through that $2560 cap.
To begin today, we might as well go back to yesterday. That JOLTS report was terrible and, as is custom these days, last month's alleged "beat" was revised lower to a miss. All of this is a sign of a rapidly-weakening US labor market and urges the FOMC along their path toward multiple rate cuts....
