China’s PMI Could Start The Next Wave of Selling Tomorrow. Watch the Major Economic Releases
This is the calm before the storm. Trading volumes normally slow down ahead of a major holiday, but this week may be different. Major economic releases will impact the market and traders will not stray too far from their computers. Tuesday, China will release its PMI. I am expecting it to fall below 50. That will signal economic contraction. The entire world is counting on China to pull us out of this recession and a slowdown would dash those hopes. Tomorrow, Chicago PMI and consumer confidence will also be released and both numbers have been relatively soft. If overseas markets are …
August 30, 2010
• Posted in: Options
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