Helllooo World and Good Morning, Markets up slightly but with some over head resistance to deal with that I show you in this video. Durable Goods orders out which has put a bit of pressure on ths market staying in the positive.
Good Morning Traders, Markets are in upward motion in the premarket action. Let's see if we can get some follow through. Still looking for a pullback on the weekly chart. This market is doing a great job of holding up.
Good Morning Traders, Not a much to report. Looks to be a continuation of yesterday's down day. I have noted the support areas in today's video so check it out and make sure to be back at noon for Matadors intra day recap.
Market is under a selling pressure this morning. The rising wedge may play out here if we can break the lower trend line and close below it today. Very little economic news out this week so be watching the earnings announcements as they release.
Markets are with the news of GE and C earnings. We are right up against resistance, so we could look for a breakout or for the resistance to prove and start the decline of the rising wedge formation.
Jobless claims came in lower than expected which is a great. Housing starts also came in lower than expected which is negative. The market is viewing the jobless claims as the more important report and moving higher in the pre-market trading.
We have CPI release at 8:AM. That will move the markets. basically flat for now. Keep an eye on the US dollar and se if we can't get in to some commodity related positions. Check out Matador at noon and D7 for the Post market.
Short and Sweet this afternoon. Taking a quick look at the S&P technical Analysis and where the market were trading near the close of the day.
PPI -1.2 with expectations of 0.1 to the positive. Retail Sales released at -1.1 with a expectation of +0.1. The economic news has not good this morning. The markets have now sold off on the release of the reports with S&P Futures down 6 points currently.
Not to much to report as Traders are waiting for news to start releasing over the next couple of days. Kicking off with Citi in the morning and the PPI report. Talk to you in the morning. Breakout