Market Makes New All-time High

The market was able to breakout of the trading range ahead of major news.

PRE-OPEN MARKET COMMENTS THURSDAY - Yesterday the market staged a nice rally and it was able to breakout to a new all-time high. ADP showed a slight decline and that got the "bad news is good news" crowd excited before the open. ISM Services came in strong at 53.8 (51.0 expected) and that reversed a weak reading last month (49.4). This got buyers excited because ISM Services had dipped into contraction territory for the first time since December 2022. Yesterday we had a little something for everyone.

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