As market participants wait for the possible announcement of a third QE this coming Thursday, equities and commodities are at their year highs.
On the stocks front, apples have dropped in yesterday’s session over 2%, indicating a possible short term top for the current rally.
Tonight was a relatively negative session for Asia with main indices – With China, Japan and Australia dropping by 0.7%
Key market data to watch today.
11:30 U.S - NFIB Business optimism index.
15:15 Canada – Housing starts.
23:50 Japan – Machine orders
S&P 500 – short term resistance at 1432, longer resistance and target price 1450, support at 1420.