Thursday Prep
Yesterday's FOMC announcement and statement failed to get the market moving significantly, though the tone was bullish following the news. Overnight has moved higher to test the RTH high from Monday and the Globex range is currently 2381.25-90.75, with the market on the back foot following weak productivity and higher than expected labor costs data putting evidence against a rate rise next month. However, if the market can remain above yesterday's RTH high there's little resistance above up to the all time high.