Daily comment

The financial markets are back in full swing today after the long holiday weekend. Bonds continue to remain just beneath a tough resistance level, while Stocks are getting off to a sluggish start due to concerns for the overall global economic recovery.

The ISM Services Index, which gauges the health of the non-manufacturing or service industry, came in better than expectations. Overall, the report indicates continued contraction, but at a slower pace.Many traders and investors may be taking the next few days off as an extension of the holiday weekend, which can increase volatility. I recommend floating as we see how Bonds and Stocks continue to react to important technical factors and the news of the day, but be prepared to change direction if necessary.
Leonard Winslow Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow