The July Chicago Fed Naional Activity Index showed an improvement. The result is not followed on the otherwise marvelous FX Factory Eco Calendar, have to turn to Bloomberg for this one:
Prior Prior Revised Actual
Level -0.46 -0.38 -0.06
3 Month Moving Average -0.60 -0.54 -0.29
Running counter to recent poor data, it shows improvement. Combined with the bounce from the lows first thing morning which were below last week’s lows, its given a better tone to the ES.