Friday, January 31, 2020 8:52:56 AM
value established lower yesterday
value area is now lower. market is still trying to adjust prices
that said the market is using value area as support.
The January Chicago Purchasing Managers' Index is due Friday at 9:45 am ET and is seen slipping to 48.5 (consensus range: 47.8 to 49.3) after a stronger-than-expected 48.9 in December. The PMI has been below the 50 expansion/contraction divide for six of the last seven reports.
below 50 is a warning for the economy
value area is now lower. market is still trying to adjust prices
that said the market is using value area as support.
The January Chicago Purchasing Managers' Index is due Friday at 9:45 am ET and is seen slipping to 48.5 (consensus range: 47.8 to 49.3) after a stronger-than-expected 48.9 in December. The PMI has been below the 50 expansion/contraction divide for six of the last seven reports.
below 50 is a warning for the economy
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