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Tuesday, March 2

Dow is being indecisive

Nothing much to see from today’s chart.

DOW DAILY CHART
Capture

We are seeing an indecision candle which can be both bullish and bearish. What we can tell is that the market is not confident about the rally without an economic data boost.

And tomorrow, there is going to be the ADP report which would most certainly determine the week’s trend.

ADP is expected to see a decline in jobs by a further 15k. The snow storm is expected to distort this data a little.

Economists are bracing for a very nasty figure, which suggests why the DOW fell in the afternoon.

If ADP reports decline of 20k and less, this signals a strong rally ahead.

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