Before the Open (Sep 11)

Good morning. Happy Friday.
It’s up up and away for the market. After 5 consecutive up days, all the indexes are at or near their highs. This is the longest winning streak for the S&P since the market bottomed in March. The bulls are relentless. They keep defending their turf. They keep buying every dip. This is supposed to be the worst performing month of the year, but the S&P is up almost 24 (2.3%) – not bad….
Here’s the weekly. We have a rising wedge into a very thin area, so this area (around 1050) seems significant. Be on your toes for either a mad hysterical squeeze into the thin area noted or a break down.

On a much shorter time frame, there isn’t much to chart. Steady buying has pushed the index up almost 50 points in one week.

The Asian/Pacific markets closed mostly up and Europe is currently up across the board. Futures here in the States are up slightly.
Let’s keep watching the US dollar and LIBOR.
All traders should be back from vacation next week. Volume will pick up, and the fall season officially begins. At the current level, the stage is nicely set for lots of movement – exactly what we want to see.
More comments coming after the open.
headlines at Yahoo Finance
stocks to watch from MarketWatch
today’s upgrades/downgrades
yesterday’s Sector Performance
this week’s Earnings Reports
this week’s Economic Numbers
open a real-time futures demo account at…