S&P 500 Technical Analysis – Soft data brings some uncertainty in the market ...Middle East

Fundamental OverviewYesterday, the US ISM Manufacturing PMI missed forecasts although it wasn't such a big miss as it was still in the range of estimates, but it was nonetheless a miss and the market reacted accordingly. I'd say that one bad report amid a series of good ones shouldn't be enough for a change in the trend, especially considering that the final reading of the S&P Global US Manufacturing PMI released a bit earlier showed an even greater improvement. The ISM report though, should set aside the inflation fears which should be good news for the stock market as long as we don't have more worrying data on the growth side.S&P 500 Technical Analysis – Daily TimeframeOn the daily chart,

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